; wrinitwtite feria ater Sa beater AN SLA Lda aris rahi eI PAAR Sl ne Soa RI ES SEEERUEAE ae Ta ite lis Ee er eaety ; is se s 2 rer Ge APR 2 4 1989 TO: B. Kirk DATE: April 17, 1989 FROM: Administration Committee SUBJECT: Assessment increase cap Recommendation: That the City NOT institute the assessment "cap" for 1989. Background & Comments: The provincial government has introduced legislation which would put a ceiling on property assessments, limiting them to 15 percent above the average municipal increase and would apply to 1989 only. The attached articles which were in the Vancouver daily papers outline the provincial government "cap" proposal and adequately explain the advantages and disadvantages of the "cap". At the present time we do not have information which would indicate how many properties would be effected if a "cap" were introduced. ATE iTEM RECEIVED AT; BO OG ae