TOWNSHIP OF ESQUIMALT MEMORANDUM
MEETING DATE: April 8, 2024 Report No. FIN-24-009
TO: Council
FROM: Ian Irvine, Director of Financial Services
SUBJECT: 2024 Tax Rates Discussion
INFORMATION:
As part of the annual budget process, staff present various tax rate scenarios based on Council’s approved 2024 tax revenue increase. These scenarios are calculated using the updated assessment values and non-market change figures from BC Assessment. The attached presentation illustrates the calculated mill rates, the tax burden for each property class and the financial impact on the average taxpayer.
A Council resolution will be required directing staff to prepare the 2024 Tax Rates Bylaw based on their preferred tax rate scenario.
REVIEWED BY:
1. Deb Hopkins, Director of Corporate Services, Reviewed
2. Dan Horan, Chief Administrative Officer, Concurrence
LIST OF ATTACHMENTS:
1. Tax Rates Presentation