REASSESSMENT MARKET UPDATE IMPACT
|
|
- Marlene Gordon
- 6 years ago
- Views:
Transcription
1 REASSESSMENT MARKET UPDATE IMPACT 2017 Tax Year Year 1 of 4 of the Assessment Phase-in & Relative Tax Impact General Committee, February 6, 2017
2 2 AGENDA 1. REASSESSMENT FOUR YEAR MARKET UPDATE ( ) MARKET UPDATE CITY IMPACT SUMMARY 3. PROPERTY TAX IMPACTS 4. SUMMARY
3 3 1. REASSESSMENT FOUR YEAR MARKET UPDATE ( ) MPAC is responsible for assigning a current value assessment (CVA) for all properties The CVA of a property is based on a valuation date of January 1 st, 2016, which was updated from January 1 st, Properties that have increased in value will have the CVA increase phased-in by 25% in each of the four years of the current reassessment phase-in cycle ( ) Properties that experience a decrease in CVA will realize the change immediately in the first year of the reassessment cycle (2017) 2017 tax year marks the first year in the current phase-in cycle ( ) Combination of the reassessment and the annual updates completed by MPAC equate to the results in the market update
4 4 1. REASSESSMENT FOUR YEAR MARKET UPDATE ( ) In 2016, every property owner in the City of Markham received an updated property assessment notice from MPAC, which provided the reassessment values for their property over the four-year taxation period ( ) In Year 1 of the reassessment cycle there are three types of properties: 1. Properties with an assessment increase; 2. Status quo properties (no change in assessment); and 3. Properties with an assessment decrease
5 5 1. REASSESSMENT FOUR YEAR MARKET UPDATE ( ) Example of the four-year assessment phase-in program Property Type 2016 Full Assessment 2017 Full Assessment Market Increase 2017 Phased-In Assessment (Tax Year) Increasing Property 500, , , , , , ,000 Decreasing Property 500, , , , , ,000 Properties that increase will have the assessment value phased-in by 25% in each of the four years of the cycle. Properties that experience a decrease in assessment value will realize the reassessment change immediately in the first year of the cycle. It is important to note that the City average assessment increase of 9.79%, is weighted by both increasing and decreasing assessments
6 MARKET UPDATE- CITY WIDE IMPACT SUMMARY 2017 City average assessment change Property Class Overall Reassessment Impact ( ) 2017 Impact (Year 1 of 4) Residential 44.00% 11.07% Commercial 17.57% 4.01% Industrial 12.93% 2.35% Multi-Residential 25.34% 5.99% Farm 22.81% 5.56% Managed Forest (3.49)% (4.02)% Pipeline 9.66% 2.42% Total Taxable 39.62% 9.79% 1. Properties that have increased more than the City average will experience a tax increase 2. Properties that have increased at the City average will experience no change 3. Properties that have increased less than the City average will experience a tax decrease
7 MARKET UPDATE- CITY WIDE IMPACT SUMMARY Average CVA change for residential homes in Markham Property Type Property Count # 2016 Average CVA 2017 Average CVA Average Change in Phased CVA ( ) % Single Detached 52, , ,471 86, % Link Home 13, , ,988 58, % Freehold Townhouse 8, , ,627 50, % Semi-Detached 6, , ,856 52, % Residential Condominium 18, , ,454 16, % Residential Homes 98, , ,811 64, % Below or Above City Average (9.79%) 1. 4 out of the 5 residential homes types will experience a property tax increase as they are above the City average of 9.79% 2. Average residential condominiums will experience a tax decrease as they are below the City average 3. Average residential homes in Markham will experience property tax increase as they are above the City average 7
8 MARKET UPDATE- CITY WIDE IMPACT SUMMARY Average CVA change for residential homes by ward Ward 2016 Average CVA 2017 Average CVA Year-Over-Year Change % 1 624, ,893 63, % 2 719, ,851 86, % 3 607, ,324 68, % 4 545, ,924 60, % 5 512, ,849 51, % 6 627, ,329 74, % 7 558, ,690 63, % 8 474, ,986 49, % Average Residential Home 582, ,811 Below or Above City Average (9.79%) Based on the City average of 9.79%, average homes in all wards will experience a tax increase due to the market update
9 9 3. PROPERTY TAX IMPACTS Tax Impact Example Due to Market Value Update Tax Year CVA Tax Rate % , % 1, , % 1,164 Change % 9.79% -8.91% 0.00% Tax Tax Change 0 The 2017 market update in phased CVA for this example has been increased by the City average of 9.79% The 2017 tax rate is decreased to ensure the City collects the same amount of property tax as it did before the reassessment Tax impacts as a result of the market update are independent of the annual budget process
10 3. PROPERTY TAX IMPACTS Illustration of Tax Impact due to Market Value Update 2016 Phased CVA Value 2017 Phased CVA Value Change in Phased CVA % (Average City of Markham 9.79%) Property Tax Impact - As a result of the Change in Phased CVA (2016 vs Phased CVA) Impact on City share of Tax Only (2016 to 2017) 589, , % 12% is greater than the 9.79% City-wide average; therefore this property experienced an increase in property tax due to reassessment. (12.00% % = 2.21%) , , % 9.79% is the same as the 9.79% City-wide average; therefore this property will not experience a change in property tax due to reassessment. (9.79% % = 0.00%) 0 589, , % 5% is lower than the 9.79% City-wide average increase; therefore this property experienced a decrease in property tax due to reassessment. (5.00% % = (4.79%))
11 11 4. SUMMARY The 2017 tax year marks the first year of the current phase-in cycle The City-wide average increase between the 2016 and 2017 tax years is 9.79% The average residential home in Markham will experience an increase in property tax due to the market update, as they are above the City-wide average increase of 9.79% The average residential condominium will experience a tax decrease as they are below the City-wide average increase of 9.79% The commercial class increased by 4.01% and the industrial class increased by 2.35% between 2016 and The average commercial and industrial property in all wards will experience a tax decrease as they are both below the City-wide average of 9.79% Tax impacts due to reassessment and the phasing in of assessment are independent of the City s annual budget process
12 QUESTIONS 12
Report to: General Committee Date: February 5, Reassessment Market Update (Year 2 of 4) & Relative Property Tax Impact Report
SUBJECT: PREPARED BY: 2018 Reassessment Market Update (Year 2 of 4) & Relative Property Tax Impact Report Shane Manson, Senior Manager, Revenue & Property Tax RECOMMENDATIONS: 1. THAT the report entitled
More informationTo establish a policy that guides City assessment review activities to help ensure stability and accuracy of the assessment base.
EFFECTIVE: June 1, 2007 REPLACES: new PAGE: 1 of 13 POLICY STATEMENT: To establish a policy that guides City assessment review activities to help ensure stability and accuracy of the assessment base. PURPOSE:
More information2017 PROPERTY TAX RATIO POLICY
1 2017 PROPERTY TAX RATIO POLICY PRESENTATION TO GENERAL COMMITTEE FEBRUARY 21, 2017 2 1) PURPOSE AGENDA 2) EXECUTIVE SUMMARY 3) BACKGROUND - TAX RATIOS 4) TAX RATIO ANALYSIS 2017-2020 5) SUMMARY 6) RECOMMENDATION
More informationCorporate Report. Recommendation That Council approve the property tax rates as detailed in Appendix 1; and
Corporate Report Report from Financial Management Services, Accounting Date of Report: April 5, 2017 Date of Meeting: May 8, 2017 Report Number: FMS-110-2017 File: 10.57.12 Subject: 2017 Property Tax Rates
More informationSCHEDULE 20: Taxation Information
SCHEDULE 20: Taxation Information General Information This schedule collects information on the property tax policies in effect in the municipality for the year. These include: 1. Optional Property Classes
More informationCouncil Report #
Council Report # 2018-11 Title: Prepared by: Reviewed by: Approved by: 2018 Property Tax Policy - Ratios Glenn Dees, Director of Finance/Treasurer Jennifer Moore, CAO Jennifer Moore, CAO Strategic Plan:
More informationRegion of Durham. Finance Department Presentation to Township of Scugog, February 21, 2018
Region of Durham Finance Department Presentation to Township of Scugog, February 21, 2018 Broader Economic Conditions Household Debt Remains High 2018 GDP growth expected to be more moderate than 2017
More informationReport to: General Committee Report Date: May 22, Tax Write-offs in Accordance with Section 354 of the Municipal Act, 2001
SUBJECT: PREPARED BY: Tax Write-offs in Accordance with Section 354 of the Municipal Act, 2001 Shane Manson, Senior Manager, Revenue & Property Taxation RECOMMENDATIONS: 1. THAT the report entitled Tax
More information2018 Property Tax Rates and Related Matters
EX31.1 REPORT FOR ACTION 2018 Property Tax Rates and Related Matters Date: February 2, 2018 To: Executive Committee From: Acting Chief Financial Officer Wards: All SUMMARY This report recommends the 2018
More informationYear-End Tax File. Product/Service
The Service Level Agreement (SLA) is MPAC s promise to deliver timely, accurate and measurable products and services to municipalities. It is our commitment to all municipalities to maintain high performance
More informationRegion of Peel Property Tax Policy Handbook
Region of Peel Property Tax Policy Handbook Finance Department July 2017 The handbook contains the following sections: Introduction This handbook has been prepared to provide elected municipal officials,
More informationReport to: General Committee Meeting Date: February 21 st, Shane Manson, Senior Manager, Revenue & Property Tax Ext. 7514
Report to: General Committee Meeting Date: February 21 st, 2017 SUBJECT: PREPARED BY: Vacant Unit Property Tax Rebate Program Shane Manson, Senior Manager, Revenue & Property Tax Ext. 7514 RECOMMENDATION:
More informationAdministration. October 2, 2015 CL , October 1, 2015 CSC , September 23, 2015 Report CSD
Niagara Administration Sub-item 4 Office of the Regional Clerk 2201 St. David's Road W, PO Box 1042, Thorold, ON L2V 4T7 Telephone: 905-685-4225 Toll-free: 1-800-263-7215 Fax: 905-687-4977 www.niagararegion.ca
More information2007 Property Assessment and Tax Analysis of 2006 Data. Prepared for Real Property Association of Canada. November 23, 2007
2007 Property Assessment and Tax Analysis of 2006 Data Prepared for Real Property Association of Canada November 23, 2007 Prepared by: ALTUS DERBYSHIRE A division of Altus Group Limited 191 The West Mall,
More informationMunicipality of Chatham-Kent. Finance, Budget and Information Technology Services. Financial Services
Municipality of Chatham-Kent Finance, Budget and Information Technology Services Financial Services To: From: Mayor and Members of Council Gord Quinton, MBA, CPA, CGA Director, Financial Services Date:
More informationHow Economic Development and Assessment Work Together
How Economic Development and Assessment Work Together EDCO Annual Conference February 8, 2017 Carla Y. Nell Vice President Municipal and Stakeholder Relations Rebecca Webb Regional Manager Municipal and
More informationSwampscott Board of Selectman
Swampscott Board of Selectman 1 Agenda 2 FY2018 REVALUATION RESULTS COMP. 2017 v. 2018 Property Type Description FY 2017 Parcel Count FY 2017 Assessed Value FY 2018 Parcel Count FY 2018 Assessed Value
More information2006 Property Assessment and Tax Analysis of 2005 Data. Prepared for Real Property Association of Canada. December 14, 2006
2006 Property Assessment and Tax Analysis of 2005 Data Prepared for Real Property Association of Canada December 14, 2006 Prepared by: A division of Altus Group Limited 191 The West Mall, Suite 200 ON
More information2018 Budget Public Budget Consultation Meeting November 16 th, 2017
2018 Budget Public Budget Consultation Meeting November 16 th, 2017 2 1. 2018 Budget Process and Communications Plan 2. 2018 Proposed Capital Budget a. Funding Sources b. Expenditures c. Life Cycle Reserve
More information2013 Mill Rates and Property Taxes
2013 Mill Rates and Property Taxes 1 What are we talking about? Ad valorem Latin for at value (real property) Mill rate tax per dollar of value (Latin for 1,000) Mill rate factor proportion the tax per
More informationTax Supported Preliminary Operating Budget. Book 1. Budget Summary Report FCS17001
2017 Tax Supported Preliminary Operating Budget Book 1 Budget Summary Report FCS17001 BOOK ONE: 2017 PRELIMINARY TAX SUPPORTED OPERATING BUDGET SUMMARY LIST OF APPENDICES APPENDIX DESCRIPTION PAGE Tax
More informationINFORMATION REPORT. Update Respecting Multi Residential Taxation (FCS18002) (City Wide) (Outstanding Business List Item)
INFORMATION REPORT TO: COMMITTEE DATE: April 4, 2018 SUBJECT/REPORT NO: WARD(S) AFFECTED: Mayor and Members General Issues Committee Update Respecting Multi Residential Taxation (FCS18002) (City Wide)
More informationGENERAL COMMITTEE AGENDA BUDGET MEETING #5 Tuesday, January 21, :30-8:30 p.m. Council Chambers
GENERAL COMMITTEE AGENDA BUDGET MEETING #5 Tuesday, January 21, 2014 6:30-8:30 p.m. Council Chambers AGENDA ITEMS CONFLICTS OF INTEREST DELEGATIONS Nil FINANCE SECTION Page No. Item #13-271 Director of
More informationThe 2011 Budget was constructed assuming a status
2011 BUDGET INTRODUCTION & OVERVIEW The 2011 Budget was constructed assuming a status quo budget. The tax rate used to estimate 2011 tax revenues remained at the 2010 rate. A 1% change to the tax rate
More informationPre-Amalgamated Tecumseh Area
Schedule "C" to By-law 2002-42 Schedule C to By-law 2002-2002 2002 2002 Grand 2002 Grand Municipal County Education Total Rate Not San. Sewer Total RTC RTQ Description Tax Rates Tax Rates Tax Rates Incl.
More informationTheCounty PRINCE EDWARD COUNTY * ONTARIO
TheCounty PRINCE EDWARD COUNTY * ONTARIO Committee of the Whole January 25, 2018 Farm Tax Ratio Analysis Executive Summary: At the Committee of the Whole meeting held on November 16, 2017, the Prince Edward
More informationService Level Agreement between MPAC and Ontario Municipalities
Service Level Agreement between MPAC and Ontario Municipalities 1. Purpose This Service Level Agreement is a statement of MPAC s commitment to all Municipalities to maintain high performance standards
More informationBy-law Whereas the total taxable assessment within the City of Markham is $69,456,056,905;
2016 Tax Rates and Levy By-Law Being a by-law to provide for the levy and collection of sums required by The Corporation of the City of Markham for the year 2016 and to provide for the mailing of notices
More informationBY-LAW BE IT THEREFORE ENACTED BY THE MUNICIPAL COUNCIL OF THE CORPORATION OF THE TOWN OF MARKHAM THE FOLLOWING:
BY-LAW 2012- A by-law to provide for the levy and collection of sums required by The Corporation of the Town of Markham for the year 2012 and to provide for the mailing of notices demanding payment of
More informationPlanning and Growth Management Committee Item PG17.5, as adopted by City of Toronto Council on October 2, 3 and 4, 2012 CITY OF TORONTO
Authority: Bill No. 1247 Planning and Growth Management Committee Item PG17.5, as adopted by City of Toronto Council on October 2, 3 and 4, 2012 CITY OF TORONTO BY-LAW No. -2016 To cancel municipal taxes
More informationTHE CITY OF VAUGHAN BY-LAW BY-LAW NUMBER
THE CITY OF VAUGHAN BY-LAW BY-LAW NUMBER 076-2017 A By-law to adopt property tax rates, tax ratios and to provide for the general local municipality levy and collection of levies required by the Corporation
More informationCouncillor Pam McConnell Budget Overview. February 24, 2010
Councillor Pam McConnell Budget Overview February 24, 2010 Budget Process Departments start working on their budgets about 6 months before launch The City of Toronto Budget is divided into two parts: Capital
More informationThe Corporation of the Town of Essex. By-Law Number additional charges for Municipal, County. and Education purposes for the year 2017
' The Corporation of the Town of Essex Being a by-law to establish tax rates and additional charges for Municipal, County and Education purposes for the year 217 Whereas Section 29( 1) of the Municipal
More informationThe City of Sarnia TRANSIT SERVICE & PROPERTY TAXATION. People Serving People
The City of Sarnia TRANSIT SERVICE & PROPERTY TAXATION People Serving People Background Council requested a report in 2017 describing the advantages and disadvantages of the current Transit area taxation
More informationTHE CITY OF EDMONTON BYLAW PROPERTY TAX AND SUPPLEMENTARY PROPERTY TAX BYLAW
Bylaw 15182 THE CITY OF EDMONTON BYLAW 15182 2009 AND SUPPLEMENTARY BYLAW Whereas, pursuant to section 353 of the Municipal Government Act, R.S.A. 2000, c. M-26, City Council must pass a property tax bylaw
More informationDetermining Reasons for Change Part 1 Generating a Zero Phase-in List
What are Control Totals? The Control Totals Report found on the Assessment Portal of Municipal Connect, is the daily version of the annual Municipal Change Profile. It is a window in to the work MPAC is
More informationAgreement with the University of Toronto for Voluntary Payments Relating to its Revenue-Producing Properties
STAFF REPORT ACTION REQUIRED Agreement with the University of Toronto for Voluntary Payments Relating to its Revenue-Producing Properties Date: September 30, 2013 To: From: Wards: Reference Number: Government
More informationTHE CORPORATION OF THE TOWNSHIP OF BONFIELD BY-LAW NO
THE CORPORATION OF THE TOWNSHIP OF BONFIELD BY-LAW NO. 2018-30 A BY.LAW TO ADOPT THE 2018 OPERATING BUDGET INCLUDING ESTIMATES OF ALL SUMS REQUIRED FOR THE PURPOSES OF THE MUNICIPALITY DURING THE YEAR
More informationPROPERTY TAX AND WATER BILLING
PROPERTY TAX AND WATER BILLING Questions & Answers for Buying and Selling Your Home TB161(rev06/11) PROPERTY TAX When should I receive a tax bill and when are taxes usually due? The Interim Tax bill is
More informationMunicipality of Bluewater Draft Budget
Municipality of Bluewater - 2010 Draft Budget 1 Draft 2010 Budget Bluewater Municipal Council has approved a draft 2010 budget of $5,551,702, a 4.66% overall increase which protects the current levels
More informationMinistry of Finance Update
Ministry of Finance Update AMO Conference 2016 August 16, 2016 Ministry of Finance Provincial-Local Finance Division Ontario s Property Tax and Assessment System Importance to Ontario s communities: $26
More information2018 Operating Budget Process
2018 Operating Budget Process Date 2018 Proposed Budget Process & Timeline (City Council Meeting) Public Input Opportunity July 17, 2017 2018 Recommended Budget Development by Administration July 18, 2017
More informationFebruary 11, 2015 Revenue Overview
February 11, 2015 Revenue Overview General Fund Revenue By Source FY 2015: $1.15 billion License, Permits & Fees, 1% Charges for Services, 5% State, 6% Local Taxes, 82% Misc., 5% Federal, 1% 2 Legal Limits
More informationMITIGATING ASSESSMENT LOSSES. Grace Marsh, Town of Newmarket Casey Brendon, City of Toronto James Krauter, City of Guelph
1 MITIGATING ASSESSMENT LOSSES Grace Marsh, Town of Newmarket Casey Brendon, City of Toronto James Krauter, City of Guelph 2 3 Outline - Introduction This session offers practical advice and strategies
More information2018 PRELIMINARY BUDGET April 16, 2018 Public Budget Review
2018 PRELIMINARY BUDGET April 16, 2018 Public Budget Review 1 Fire and Emergency Services Public Facilities, Arenas, Parks and Recreation Garbage Collection and Landfill Water, Wastewater Services Cemetery
More informationGENERAL ISSUES COMMITTEE MINUTES :30 a.m. May 3, 2017 Council Chambers Hamilton City Hall 71 Main Street West
GENERAL ISSUES COMMITTEE MINUTES 17-010 9:30 a.m. May 3, 2017 Council Chambers Hamilton City Hall 71 Main Street West Present: Mayor F. Eisenberger, Deputy Mayor T. Whitehead (Chair), Councillors D. Skelly,
More informationLONG-TERM FINANCIAL MASTER PLAN. City of Brampton. HEMSON C o n s u l t i n g L t d.
LONG-TERM FINANCIAL MASTER PLAN City of Brampton C o n s u l t i n g L t d. May 17, 2017 TABLE OF CONTENTS EXECUTIVE SUMMARY... 1 A. THE CITY S OVERALL FINANCIAL POSITION... 1 B. KEY DIRECTIONS TO ACHIEVE
More informationInfrastructure, Development and Enterprise Services Development Priorities Plan Summary
Staff Report To Service Area City Council Infrastructure, Development and Enterprise Services Date Monday, February 12, 2018 Subject 2018 Development Priorities Plan Summary Report Number IDE 2018-14 Recommendation
More informationStrategies for the Future
MPAC Strategies for the Future Carla Y. Nell Vice-President, Municipal and Stakeholder Relations Municipal Finance Officers Association September 21, 2017 Agenda 2016 Assessment Update MPAC Strategic Plan
More informationThe City of Hamilton Reviewing Vacant Unit Tax Rebate Program and Discounts for Excess/Vacant Land
April 2017 ATTENTION: All Business Owners The City of Hamilton Reviewing Vacant Unit Tax Rebate Program and Discounts for Excess/Vacant Land Have you applied for our Vacant Unit Tax Rebate Program in the
More informationTown of Nipawin 2018 Municipal Property Tax Policy
Town of Nipawin 2018 Municipal Property Tax Policy Introduction Property tax is an important revenue source for the Town of Nipawin and funds both operational and capital needs for general operations (all
More informationHOW THE BUDGET AFFECTS THE AVERAGE HOMEOWNER'S TAX BILL
HOW THE BUDGET AFFECTS THE AVERAGE HOMEOWNER'S TAX BILL 2008 2009 $ Variance % Variance Municipal Taxes 1,335 1,335 - Water,Sewer & Residential Street Renewal 128 - (128) -100% (a) Street Renewal - 128
More informationCOUNCIL CHAMBERS, CITY HALL SARNIA, ONTARIO
SARNIA CITY COUNCIL April 12, 2010 3:30 p.m. COUNCIL CHAMBERS, CITY HALL SARNIA, ONTARIO Page SPECIAL MEETING AGENDA SPECIAL MEETING 3-28 1. BMA Municipal Study 2009 Presentation by Jim Bruzzese Page 1
More informationEX30.5 REPORT FOR ACTION. Tax Policy Tools to Support Businesses SUMMARY
REPORT FOR ACTION EX30.5 Tax Policy Tools to Support Businesses Date: January 16, 2018 To: Executive Committee From: Acting Chief Financial Officer Wards: All SUMMARY This report provides an evaluation
More informationTax Guide. for the Acquisition, Lease, and Sale. of Real Estate in Japan. by Non-Resident Individuals
2011/07/28 UAP Tax Firm Certified public tax firm Fukoku Seimei Building 11F 2-2-2 Uchisaiwaicho, Chiyoda-ku Tokyo, 100-0011 Japan Tel: +81-3-5511-1555 http://www.u-ap.com Tax Guide for the Acquisition,
More informationNith Peninsula, Brant County Fiscal Impact Study
Fiscal Impact Study October 25, 2017 Fiscal Impact Study Prepared for: Losani Homes Prepared by: 33 Yonge Street Toronto Ontario M5E 1G4 Phone: (416) 641 9500 Fax: (416) 641 9501 economics@altusgroup.com
More informationMonthly Indicators. Monthly Snapshot. July % % + 6.6%
Monthly Indicators For residential real estate activity in the state of New Jersey 2018 Housing price bubble chatter has increased this summer, as market observers attempt to predict the next residential
More informationOperating and Capital Budgets
2018-2020 Operating and Capital Budgets Council Presentation Presented to Special Council Meeting December 6, 2017 Page 1 Page 1 OUTLINE The Journey Overview Teamwork and Organizational Transformation
More informationPresented by: Brian T. Ford, CPCU, MBA of Insurance Resources and Ashley Tharp of Wright Flood
Presented by: Brian T. Ford, CPCU, MBA of Insurance Resources and Ashley Tharp of Wright Flood National Flood Insurance Program 1/28/69 Goals Prevent future loss of life & property Reduce public monies
More informationA By-law of The Corporation of the City of Barrie to levy and collect taxes for municipal purposes of the City of Barrie for the year 2018.
By-law 2018-041 as amended Tax Capping By-law This By-law printed under and by the authority of the Council of the City of Barrie A By-law of The Corporation of the City of Barrie to levy and collect taxes
More informationStatus of Outstanding Payment in Lieu of Tax Amounts for Federal, Provincial and Municipal Properties
GM19.4 REPORT FOR ACTION Status of Outstanding Payment in Lieu of Tax Amounts for Federal, Provincial and Municipal Properties Date: March 17, 2017 To: Government Management Committee From: Treasurer Wards:
More informationTHE CORPORATION OF THE MUNICIPALITY OF BOOKE-ALVINSTON BY-LAW NUMBER 29 of 2017
THE CORPORATION OF THE MUNICIPALITY OF BOOKE-ALVINSTON BY-LAW NUMBER 29 of 2017 Being a By-law to provide for the adoption of the 2017 tax rates, including rates established for certain special areas,
More informationCITY OF KAMLOOPS Council Budget Meeting Agenda March 14, 2017, at 9:00 am in Council Chambers at 7 Victoria Street West, Kamloops, BC, V2C 1A2
CITY OF KAMLOOPS Council Budget Meeting Agenda March 14, 2017, at 9:00 am in Council Chambers at 7 Victoria Street West, Kamloops, BC, V2C 1A2 1. REPORTS Chief Administrative Officer 1.1 Review of Assessment
More informationTHE CITY OF VAUGHAN BY-LAW BY-LAW NUMBER
THE CITY OF VAUGHAN BY-LAW BY-LAW NUMBER 094-2015 A By-law to adopt property tax rates, tax ratios and to provide for the general local municipality levy and collection of levies required for the City
More informationCHAIR AND MEMBERS CORPORATE SERVICES COMMITTEE MEETING ON APRIL 3, 2018
TO: CHAIR AND MEMBERS CORPORATE SERVICES COMMITTEE MEETING ON APRIL 3, 2018 FROM: ANNA LISA BARBON MANAGING DIRECTOR, CORPORATE SERVICES AND CITY TREASURER, CHIEF FINANCIAL OFFICER SUBJECT: YEAR 2018 TAX
More informationOperating and Capital Budgets
2018-2020 Operating and Capital Budgets Budget Committee Presentation Presented to Budget Committee November 27, 2017 Page 1 Page 1 OUTLINE The Journey Overview Teamwork and Organizational Transformation
More informationTax Letter THE FIRST-TIME HOME BUYER S CREDIT CAPITAL GAIN OR INCOME? Since capital gains are only half taxed, the distinction
Julie Bureau CPA, CA, partner Tax Letter Monthly Newsletter March 2016 THE FIRST-TIME HOME BUYER S CREDIT Many taxpayers are unaware of a federal bonus available if you are buying a home and do not currently
More informationCalgary Young Practitioners Group
November 20, 2013 Introduction Partnerships have been a very popular choice for carrying on business in Canada, particularly in the oil and gas industry Over the last few years, there has been a legislative
More informationRestoring Multi-Dwelling and Large Losses Improving Knowledge and Efficiency
Restoring Multi-Dwelling and Large Losses Improving Knowledge and Efficiency Professional Background Insurance Industry Independent Adjuster Handled losses in parts of 5 states: GA, AL, NC, SC and TN Insurance
More informationBY-LAW PASSED: May 7,2013
Clause (1), Report No. 68, 2013 BY-LAW 2013-108 A BY-LAW TO ESTABLISH GENERAL MUNICIPAL, FIRE, GARBAGE, AND SPECIAL TAX RATES FOR THE YEAR 2013 TO PROVIDE FOR A FINAL TAX LEVY; TO PROVIDE FOR LATE PAYMENT
More informationCity of Kingston Report to Council Report Number
To: From: Resource Staff: Date of Meeting: May 15, 2018 Subject: City of Kingston Report to Council Report Number 18-129 Mayor and Members of Council Desirée Kennedy, Chief Financial Officer and City Treasurer
More informationMinistry of Finance August 18, 2015
Ministry of Finance August 18, 2015 The purpose of this presentation is to provide an update on reviews being undertaken by the Provincial-Local Finance Division of the Ministry of Finance. 1. Status update
More informationB Y-LAW NO Being a by-law to establish municipal and education tax rates for the year 2015.
THE CORPORATION OF THE CITY OF ELLIOT LAKE B Y-LAW NO. 15-12 Being a by-law to establish municipal and education tax rates for the year 2015. The Council of The Corporation of the City of Elliot Lake ENACTS
More informationSUBMITTED BY: Ryan Hagey, Director of Financial Planning, x 7353
REPORT TO: Finance and Corporate Services Committee DATE OF MEETING: January 18, 2016 SUBMITTED BY: Ryan Hagey, Director of Financial Planning, 519-741-2200 x 7353 PREPARED BY: Ryan Hagey, Director of
More informationA G E N D A BUDGET COMMITTEE November 21, :30 p.m. Council Chamber MEETING NO. 8
Chair: Vice-Chair: Members: A G E N D A BUDGET COMMITTEE November 21, 2017 3:30 p.m. Council Chamber MEETING NO. 8 Councillor Logan Kanapathi Councillor Amanda Collucci Regional Councillor Nirmala Armstrong
More information2007 FINANCIAL INFORMATION RETURN Municipality: Brampton C MSO Office: Central Ontario Tier: Lower-Tier Area: Peel R MAH Code: 21101 DECLARATION OF THE MUNICIPAL TREASURER Submitting: FIR and MPMP Version:
More informationCITY OF BRAMPTON Budget Highlights. As Approved by City Council on February 23, 2011
CITY OF BRAMPTON 2011 Budget Highlights As Approved by City Council on February 23, 2011 EXEXCUTIVE SUMMARY The current economic climate, meeting provincial growth targets and other budget drivers places
More informationRevenues. Property Tax. Property Tax Revenue vs. Assessed Valuations
Property Tax Although property tax has historically been the largest revenue source for the City s General Fund, currently it is a close second to the sales tax revenue. During fiscal year 2012-13, the
More informationBy-Law Number A By-Law to Levy Taxes for Year 2018
Page 1 of 6 Clause 4, Report Number 50, 2018 By-Law Number 2018-93 A By-Law to Levy Taxes for Year 2018 Passed: May 15, 2018 Whereas pursuant to Section 290 of the Municipal Act, 2001, as amended, provides
More informationThe Residential Assessment Rate and the Gallagher Amendment
The Residential Assessment Rate and the Gallagher Amendment Slide from Legislative Council Staff Property Taxes in Colorado Actual Values Assessment Rate Assessed Values 7.2% Residential * 29% Nonresidential
More informationMunicipal Capital Facilities Exemption of City Properties from Realty Taxes
STAFF REPORT ACTION REQUIRED Municipal Capital Facilities Exemption of City Properties from Realty Taxes Date: December 3, 2013 To: From: Wards: Reference Number: Government Management Committee General
More informationResolution # City of Fernley BUSINESS LICENSE FEE SCHEDULE Exhibit A Effective May 4, 2017
Resolution # 17-004 City of Fernley BUSINESS LICENSE FEE SCHEDULE Exhibit A Effective May 4, 2017 Pursuant to Fernley Municipal Code, any business, commercial enterprise, trade, occupation, calling, profession,
More informationTHE CORPORATION OF THE TOWN OF MIDLAND BY-LAW
THE CORPORATION OF THE TOWN OF MIDLAND BY-LAW 2016-24 A by-law to adopt the estimate of all sums required for the year and to set the rates of taxation for the year 2016 WHEREAS the Municipal Act, S.O.
More informationDECLARATION OF THE MUNICIPAL TREASURER
212 FINANCIAL INFORMATION RETURN Municipality: Brampton C MSO Office: Central Ontario Tier: Lower-Tier Area: Peel R MAH Code: 2111 DECLARATION OF THE MUNICIPAL TREASURER Pursuant to the information required
More informationINVESTOR PRESENTATION. November 2018
INVESTOR PRESENTATION November 2018 FORWARD-LOOKING STATEMENTS This presentation contains certain statements that may be forward-looking statements. All statements in this document, other than statements
More informationSCHEDULE A 2017 COUNTY-WIDE PROPERTY TAX POLICIES
SCHEDULE A 2017 COUNTY-WIDE PROPERTY TAX POLICIES POLICY STAFF RECOMMENDATION Transition Ratios, Tax Ratios, Class Discounts and Tax Rates Mandatory Capping THAT the 2017 County-wide transition ratios
More informationMonthly Indicators. June Monthly Snapshot - 3.6% % + 4.1%
Monthly Indicators For residential real estate activity in the state of New Jersey 2018 Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself
More informationInnovative Approaches to Automating Mobility Administration
Innovative Approaches to Automating Mobility Administration SPEAKERS Kathi Greene, Director Executive Compensation, Phillips 66 (US) Robert Hayter, Asst Gen Counsel, Halliburton (US) Leann Balbona, Tax
More informationCITY OF DALLAS MASTER LEASE PROGRAM. BUDGET, FINANCE & AUDIT COMMITTEE February 3, 2014
CITY OF DALLAS MASTER LEASE PROGRAM BUDGET, FINANCE & AUDIT COMMITTEE February 3, 2014 PURPOSE Discuss the benefits of the master lease program in financing equipment purchases Review the initial selection
More informationCommittee of Council Budget December 6, 9 and 10, 2013
2014 Budget Committee of Council Budget December 6, 9 and 10, 2013 AGENDA 1. Corporate Overview Budget Context Priorities, Opportunities and Challenges Development Outlook Budget Process 2. Financial Overview
More informationStaff Reports, By-laws and Motions:
The Corporation of The City of Dryden June 3, 2013 Minutes of an Open Special Meeting of Council held at 7:00 p.m. on the above date in the Council Chambers at City Hall. Present: Absent: Staff: Others:,
More informationSCHEDULE 72: Continuity of Taxes Receivable
SCHEDULE 72: Continuity of Taxes Receivable General Information This series of schedules is only completed by Single-Tier or Lower-Tier municipalities. In a two-tier system, even though the Upper-Tier
More informationThe University of Central Florida
2010 1 About This Material This Loan Policy is adopted by, the Plan Administrator of The University of Central Florida 403(b) Plan (the "Plan"), and is effective as of the date of execution. This Loan
More informationAndrew Nazareth General Manager, Finance & Corporate Services Robert Gonzalez, P.Eng. General Manager, Engineering & Public Works
City of Richmond Report to Committee To: From: Re: General Purposes Committee Andrew Nazareth General Manager, Finance & Corporate Services Robert Gonzalez, P.Eng. General Manager, Engineering & Public
More informationSouthern California Edison Revised Cal. PUC Sheet No E Rosemead, California (U 338-E) Cancelling Revised Cal. PUC Sheet No.
Southern California Edison Revised Cal. PUC Sheet No. 63147-E Rosemead, California (U 338-E) Cancelling Revised Cal. PUC Sheet No. 62808-E APPLICABILITY Schedule D-CARE Sheet 1 Applicable to domestic service
More informationUpdate. Tax UK-REITS. January 2006
Update January 2006 Tax UK-REITS As part of the 2005 Pre-Budget Report, the Government announced in December 2005 that it would bring forward legislation for the introduction of Real Estate Investment
More informationGlossary of Property Tax Terms
October 23, 2017 Glossary of Property Tax Terms Taxable Assessed Value: The assessed value of a parcel (or an entire assessment roll) against which the tax rate is applied to compute the tax due. Assessed
More informationSchedule 27 OUTDOOR LIGHTING SERVICE HIGH PRESSURE SODIUM VAPOR
I. APPLICABILITY This schedule is applicable only to (1) who elect to receive Electricity Supply Service and Electric Delivery Service from the Company or (2) who are eligible for and elect to purchase
More informationExecutive Summary. Preliminary Financial Forecast
Executive Summary The purpose of this report is to obtain directions from City Council regarding development of the 2019 Budget. It includes: a) A description of the proposed 2019 Budget development process
More informationProof of Asset Value Maximum value $200, subject to Housing Services Act Regulation 367 / 11 Section 35
2019 Renovate Documents Please find enclosed the application for the 2019-2020 Renovate Program. I have included a check list of the required documents that need to be attached to the application in order
More information