Report to Timmins City Council on tax ratios

ADMINISTRATIVE OM /eld.

REPORT

Finance Department

Public Document: X Yes No

SUBJECT:

Comparing alternative tax ratios for setting 2014 tax rates.

RECOMMENDATION:

That Council approve using the alternative tax ratios which minimize the tax shifts causedby market value reassessment to the residential class.

EXPLANATION:

Market value reassessments for the City of Timmins using the 2012 as a base year for theyears 2013 through 2016 resulted in a shift in taxation from the Commercial and IndustrialTax Classes to the Residential Tax Class using the starting ratios. Council approvedmoving to alternative ratios in 2013 which helped mitigate the tax shift to the residentialclass caused by reassessment.

If we utilize the same tax tools to move to alternative ratios in 2014 it will also reduce thetax shift to the Residential Class. The impact on the Residential Class in 2014 will see theincrease in municipal levy go from 4. 29% to 3. 55% when switching to the alternative ratios.Please refer to the highlighted column on the Tax Impact Summaries from OPTA producedusing the starting ratios and alternative ratios. The Commercial Occupied will go from anincrease of 1. 36% to 3. 35%. The Industrial Class was levy restricted so its decrease wentfrom - 0. 12% to - 0. 84%.

The attached spreadsheet shows the levy comparisons from 2012 through 2014 usingboth the starting ratios in 2014 and the alternative ratios. If one examines the last columnwhich shows the relative levy percentage by property class using the alternative ratios for2014, they will notice that percentages in 2014 are trending towards the 2012 percentagesin column three.

RELEVANT POLICY/ LEGISLATION / TIMMINS VISION 2020:

City Council and staff will maintain a prudent and accountable balance between theeconomic service needs of the Timmins community and the resources available to theCOT- HR- 035( F8)v02 Revised: March 2014

City. The balance will be based on forward looking financial plans which sustaininfrastructure and support the City' s role in the local economy, while adapting to trends inthe City' s assessment base and senior government funding.

CONSULTATION:

Not Applicable.

FINANCIAL AND/ OR HUMAN RESOURCE IMPLICATIONS:

Please checkmark box to the left if this report has been reviewed by the FinanceDivision and the funding source has been identified

Please indicate the funding allocation by account number: N/ A

ACCESSIBILITY IMPLICATIONS (AODA):

Not Applicable.

ROLL NUMBER AND/ OR REFERENCE NUMBER:

Not Applicable.

l`Date: April 14, 2014

Department Head NameDepartment Name

CAO RECOMMENDATION: XYes No

Comments:

COT- HR- 035( F8)v02 Revised: March 2014

Date: April 11, 2014

Joe TorloneChief Administrative Officer

COT- HR- 035( F8)v02 Revised: March 2014

TaxTools, 2014TaxImpactSummaryTimminsCity, 5627 StartingRatiosremovingLevyRestrictionApril10, 2014UsingOPTAcalculatedratesonApril10, 20149:17AM. AssessmentDataFilterOptionUsed: DecreaseLimit: 25% IncreaseLimit: 100%, IncludePILProperties, TaxRatiosUsed: 2014AlternativeTaxRatios

2013TotalYearEndTaxation2014EstimatedTotalTaxation ($)DifferenceBetween2013and2014TaxationCVAsUsedtodeterminemunicipalgenerallevyMunicipalEducationTotalChange

ClassMunicipalEducationTotal2013MunicipalEducationTotal2014$%$%$% CVATaxRatioEdu. TaxRateTaxableResidential39,217,2544,628,05943,845,31440,901,2764,697,51245,598,7891,684,0224.29% 69,4531.50%1,753,4754.00% 2,314,028,6071.000000000.00203000NewMulti-residential44,4345,24449,67745,8145,26251,0751,3803.11% 180.34% 1,3982.81% 2,591,9511.000000000.00203000Multi-residential1,843,059124,0581,967,1171,882,393123,3112,005,70439,3342.13%- 747-0.60% 38,5871.96% 60,744,1201.753226000.00203000Com. Occupied13,463,5785,235,08818,698,66613,646,6175,221,84518,868,462183,0401.36%- 13,243-0.25% 169,7960.91% 428,020,0831.803818000.01220000Com. Exc. Land123,69948,098171,797134,51251,471185,98310,8138.74% 3,3737.01% 14,1868.26% 6,027,0131.262672600.00854000Com. Vac. Land327,942127,515455,457334,175127,871462,0466,2331.90% 3560.28% 6,5891.45% 14,973,2261.262672600.00854000Ind. Occupied1,293,737399,4521,693,1901,292,158392,7601,684,918- 1,580-0.12%- 6,692-1.68%- 8,272-0.49% 32,193,4542.270805000.01220000Ind. Exc. Land29,5289,11738,64631,8519,68141,5332,3237.87% 5646.19% 2,8877.47% 1,220,8591.476023250.00793000Ind. Vac. Land82,34125,424107,76588,52926,909115,4386,1887.51% 1,4855.84% 7,6737.12% 3,393,3141.476023250.00793000LargeInd. Occ. 3,571,902886,0174,457,9193,544,448865,5354,409,983- 27,453-0.77%- 20,483-2.31%- 47,936-1.08% 70,945,4602.826545000.01220000LargeInd. Exc. 13,3103,30216,61213,3033,24816,551- 8-0.06%- 53-1.61%- 61-0.37% 409,6391.837254250.00793000Pipelines514,851176,381691,232515,377173,752689,1295260.10%- 2,629-1.49%- 2,103-0.30% 14,242,0002.047320000.01220000Farm24,8752,93527,81026,1683,00529,1731,2935.20% 702.38% 1,3634.90% 5,921,9080.250000000.00050750ManagedForests2,9543493,3033,5604093,96960520.49% 6017.26% 66620.15% 805,5860.250000000.00050750ComTotalTaxable13,915,2195,410,70219,325,92014,115,3045,401,18719,516,491200,0861.44%- 9,514-0.18% 190,5710.99% 449,020,322IndTotalTaxable4,990,8191,323,3126,314,1314,970,2891,298,1346,268,423- 20,530-0.41%- 25,178-1.90%- 45,709-0.72% 108,162,726TotalTaxable60,553,46511,671,04072,224,50462,460,18111,702,57274,162,7531,906,7163.15% 31,5330.27%1,938,2492.68% 2,955,517,220

PaymentinLieuResidential101,1609,100110,259121,02610,509131,53619,86719.64% 1,41015.49% 21,27619.30% 6,847,2001.000000000.00203000NewMulti-residential00000000.00% 00.00% 00.00% 01.000000000.00203000Multi-residential00000000.00% 00.00% 00.00% 01.753226000.00203000Com. Occupied709,834112,717822,551734,307113,146847,45324,4733.45% 4290.38% 24,9023.03% 23,031,2261.803818000.01220000Com. Exc. Land15,38897316,36115,19196116,152- 197-1.28%- 12-1.20%- 209-1.28% 680,6401.262672600.00854000Com. Vac. Land27,3304,05731,38727,3893,99231,381590.22%- 66-1.62%- 7-0.02% 1,227,2001.262672600.00854000Ind. Occupied141,15043,581184,732140,59742,735183,332- 554-0.39%- 846-1.94%- 1,400-0.76% 3,502,8972.270805000.01220000Ind. Exc. Land7,0022,1629,1638,2312,50210,7331,23017.57% 34015.74% 1,57017.13% 315,5111.476023250.00793000Ind. Vac. Land2,4504532,9032,6154803,0951656.74% 276.03% 1926.63% 100,2501.476023250.00793000LargeInd. Occ. 00000000.00% 00.00% 00.00% 02.826545000.01220000LargeInd. Exc. 00000000.00% 00.00% 00.00% 01.837254250.00793000Pipelines00000000.00% 00.00% 00.00% 02.047320000.01220000Farm00000000.00% 00.00% 00.00% 00.250000000.00050750ManagedForests00000000.00% 00.00% 00.00% 00.250000000.00050750ComTotalPIL752,552117,747870,299776,887118,099894,98624,3353.23% 3520.30% 24,6872.84% 24,939,066IndTotalPIL150,60246,196196,798151,44445,717197,1618410.56%- 479-1.04% 3630.18% 3,918,658TotalPIL1,004,314173,0421,177,3561,049,357174,3251,223,68245,0434.48% 1,2830.74% 46,3263.93% 35,704,924ComGrandTotal14,667,7715,528,44920,196,21914,892,1915,519,28620,411,477224,4211.53%- 9,163-0.17% 215,2581.07% 473,959,388IndGrandTotal5,141,4211,369,5086,510,9295,121,7331,343,8516,465,583- 19,689-0.38%- 25,657-1.87%- 45,346-0.70% 112,081,384GrandTotal61,557,77911,844,08273,401,86063,509,53811,876,89775,386,4351,951,7593.17% 32,8160.28%1,984,5752.70% 2,991,222,144

TaxTools, 2014TaxImpactSummaryTimminsCity, 5627 NotionalRatiosremovingIndustrialLevyRestrictionUsingOPTAcalculatedratesonApril10, 20149:50AM. AssessmentDataFilterOptionUsed: DecreaseLimit: 25% IncreaseLimit: 100%, IncludePILProperties, TaxRatiosUsed: 2014AlternativeTaxRatios

2013TotalYearEndTaxation2014EstimatedTotalTaxation ($)DifferenceBetween2013and2014TaxationCVAsUsedtodeterminemunicipalgenerallevyMunicipalEducationTotalChange

ClassMunicipalEducationTotal2013MunicipalEducationTotal2014$%$%$% CVATaxRatioEdu. TaxRateTaxableResidential39,217,2544,628,05943,845,31440,608,3154,697,51245,305,8271,391,0613.55% 69,4531.50%1,460,5133.33% 2,314,028,6071.000000000.00203000NewMulti-residential44,4345,24449,67745,4865,26250,7471,0522.37% 180.34% 1,0702.15% 2,591,9511.000000000.00203000Multi-residential1,843,059124,0581,967,1171,904,442123,3112,027,75361,3833.33%- 747-0.60% 60,6373.08% 60,744,1201.786558990.00203000Com. Occupied13,463,5785,235,08818,698,66613,914,5765,221,84519,136,422450,9993.35%- 13,243-0.25% 437,7562.34% 428,020,0831.852505840.01220000Com. Exc. Land123,69948,098171,797137,15351,471188,62413,45510.88% 3,3737.01% 16,8279.79% 6,027,0131.296754090.00854000Com. Vac. Land327,942127,515455,457340,737127,871468,60812,7953.90% 3560.28% 13,1512.89% 14,973,2261.296754090.00854000Ind. Occupied1,293,737399,4521,693,1901,282,903392,7601,675,663- 10,835-0.84%- 6,692-1.68%- 17,527-1.04% 32,193,4542.270805000.01220000Ind. Exc. Land29,5289,11738,64631,6239,68141,3052,0957.09% 5646.19% 2,6596.88% 1,220,8591.476023250.00793000Ind. Vac. Land82,34125,424107,76587,89526,909114,8045,5546.74% 1,4855.84% 7,0396.53% 3,393,3141.476023250.00793000LargeInd. Occ. 3,571,902886,0174,457,9193,519,061865,5354,384,595- 52,841-1.48%- 20,483-2.31%- 73,324-1.64% 70,945,4602.826545000.01220000LargeInd. Exc. 13,3103,30216,61213,2073,24816,456- 103-0.77%- 53-1.61%- 156-0.94% 409,6391.837254250.00793000Pipelines514,851176,381691,232531,965173,752705,71717,1143.32%- 2,629-1.49% 14,4852.10% 14,242,0002.128460820.01220000Farm24,8752,93527,81025,9813,00528,9861,1064.45% 702.38% 1,1764.23% 5,921,9080.250000000.00050750ManagedForests2,9543493,3033,5344093,94358019.63% 6017.26% 64019.38% 805,5860.250000000.00050750ComTotalTaxable13,915,2195,410,70219,325,92014,392,4675,401,18719,793,654477,2483.43%- 9,514-0.18% 467,7342.42% 449,020,322IndTotalTaxable4,990,8191,323,3126,314,1314,934,6891,298,1346,232,822- 56,130-1.12%- 25,178-1.90%- 81,309-1.29% 108,162,726TotalTaxable60,553,46511,671,04072,224,50462,446,87711,702,57274,149,4501,893,4133.13% 31,5330.27%1,924,9452.67% 2,955,517,220

PaymentinLieuResidential101,1609,100110,259120,16010,509130,66919,00018.78% 1,41015.49% 20,41018.51% 6,847,2001.000000000.00203000NewMulti-residential00000000.00% 00.00% 00.00% 01.000000000.00203000Multi-residential00000000.00% 00.00% 00.00% 01.786558990.00203000Com. Occupied709,834112,717822,551748,726113,146861,87238,8925.48% 4290.38% 39,3214.78% 23,031,2261.852505840.01220000Com. Exc. Land15,38897316,36115,48996116,4501010.66%- 12-1.20% 890.55% 680,6401.296754090.00854000Com. Vac. Land27,3304,05731,38727,9273,99231,9185972.18%- 66-1.62% 5311.69% 1,227,2001.296754090.00854000Ind. Occupied141,15043,581184,732139,59042,735182,325- 1,561-1.11%- 846-1.94%- 2,407-1.30% 3,502,8972.270805000.01220000Ind. Exc. Land7,0022,1629,1638,1722,50210,6741,17116.72% 34015.74% 1,51116.49% 315,5111.476023250.00793000Ind. Vac. Land2,4504532,9032,5974803,0761465.98% 276.03% 1745.98% 100,2501.476023250.00793000LargeInd. Occ. 00000000.00% 00.00% 00.00% 02.826545000.01220000LargeInd. Exc. 00000000.00% 00.00% 00.00% 01.837254250.00793000Pipelines00000000.00% 00.00% 00.00% 02.128460820.01220000Farm00000000.00% 00.00% 00.00% 00.250000000.00050750ManagedForests00000000.00% 00.00% 00.00% 00.250000000.00050750ComTotalPIL752,552117,747870,299792,142118,099910,24039,5905.26% 3520.30% 39,9414.59% 24,939,066IndTotalPIL150,60246,196196,798150,35945,717196,076- 243-0.16%- 479-1.04%- 722-0.37% 3,918,658TotalPIL1,004,314173,0421,177,3561,062,660174,3251,236,98658,3465.81% 1,2830.74% 59,6295.06% 35,704,924ComGrandTotal14,667,7715,528,44920,196,21915,184,6085,519,28620,703,894516,8383.52%- 9,163-0.17% 507,6752.51% 473,959,388IndGrandTotal5,141,4211,369,5086,510,9295,085,0481,343,8516,428,898- 56,374-1.10%- 25,657-1.87%- 82,031-1.26% 112,081,384GrandTotal61,557,77911,844,08273,401,86063,509,53811,876,89775,386,4351,951,7593.17% 32,8160.28%1,984,5752.70% 2,991,222,144

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