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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