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File #: 24-182    Version: 1 Name:
Type: Staff Report Status: Passed
File created: 3/26/2024 In control: Council
On agenda: 4/8/2024 Final action: 4/8/2024
Title: 2024 Tax Rates Discussion, Staff Report FIN-24-009
Attachments: 1. 2024 Property Tax Rates - Presentation

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