Appendix
Appendix A: Analysis of change in assessment status - 94 Talcott Road
April 17, 2018Page 241 section
Financial analysis showing the net impact of the property classification change on municipal taxes and PILT revenue.
Net revenue impact ($113,759)Total municipal taxes $35,824 (2018 estimate)2017 Total PILT $152,401
Town of View Royal
Analysis of change in assessment status
94 Talcott Road Folio 401 07004.010
2017 Assessment
| Assessment | Class 06 |
|---|---|
| Land | 2,395,000 |
| Improvements | 13,879,000 |
| PILT based on | 16,264,000 |
| Class 06 Municipal rate | 9.37044 |
| Total PILT | 152,401 |
2018 Assessment
| Assessment | Class 01 | Taxable % | Taxable $ | Exempt % | Exempt $ |
|---|---|---|---|---|---|
| Land | 2,514,000 | 92% | 2,313,000 | 8% | 201,000 |
| Improvements | 13,707,000 | 93% | 12,725,000 | 7% | 982,000 |
| Taxes based on | 16,264,000 | 15,038,000 | 1,183,000 | ||
| Class 01 Municipal rate | 2.38224 | 2.38224 | |||
| Total municipal taxes | 35,824 | ||||
| Estimated PILT at Class 01 (unconfirmed) | 2,818 | ||||
| Net impact | (113,759) |
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Extracted from: 2018 04 17 Council Agenda - Agenda - Pdf