3. The increases in assessment brought about by the foregoing changes
will be phased in over a four year period to lessen the impact of the changes,
although anyone who is presently over-assessed will drop back to the new

assessment fipure in the first year. -It should be pointed-out also that phase-

in will only apply to residential property - not commercial or industrial.
General Roll .
Municipalities will be able to select from any one of four options in the
preparation of their General Assessment Roll:

A. School Roll described above with phase-in.

B. School Roll described above with no phase—in.

Cc. Roll with the properties remaining at an assessment level which is

basically the same level that existed in 1977, with no phase-in,

D. Roll with properties assessed at actual value (100% of market) or a

uniform percent thereof. For example, instead of 100% of market, we could
set 50% or 70% of market, as long as this percentage is applied to all classes

of property on the Roll. This option, again, is without phase-in.

I have circulated to all Members of Council, a Study produced by the Assessment
Authority which gives a number of computer printouts showing detailed data on
the effects .f the various options. There is some significant information

in these printouts and I can point these out to Council during our discussion
of this topic. For the present, the attached summary sheet’ shows the effect

of the tax shift for each one of the four options on the various classes of
property. This sheet is a summary of all of the other data contained in the
Report. ‘From ‘this Report, you will see’ that Options A, B, C, and D are listed
for each of the classes or property. If you then refer to the column headed

"% Tax Share Shift from the 1977 Roll", you will see that residential taxes
will decrease by 2.17% under Option A, and will increasé 9.82% under Option D,

for example. The shift in taxation is thus given for each class of property

for each of the Options. ‘The bar graphs presented in the body of the Assessment
Commission Report, give further details of the exact number of properties
affected and the magnitude of the shift. This can be explained further in
discussion and will be the significant information in Council deciding what

Option should be chosen.

In my view, Options B or C are not.worthwhile pursuing. | Option B is the same

8

as Option A without the phase~in, and I cannot see any advantage in doing this

as it will create a Tax Notice with two separate calculations on it which will