1. Option A has the disadvantage of being subject to a decision of the

Lieutenant-Governor annually and we will be at the mercy of whatever decisions
are made in Victoria each year. Option D permits us to maintain 100% levels
of assessment for the General Roll and it will only be the school portion of

the Roll that will be subject to possible adjustments in Victoria.

2. The shift in taxation from commercial and industrial to residential is not
as drastic for Port Coquitlam as it is for some of the other lower mainland
municipalities and this Option does restore the type of equity that was in effect

‘prior to the legislative limitations that were imposed years ago.

3. . If Council is concerned about the impact of the shift to residential, it
should be remembered that the Home-Owner Grant is the methed of equalization
that has been used in the Province for many years and its effect is to relieve
some residential property from a certain portion of taxation. It might also be
noted that this was the method recommended in the McMath Report after they
‘reviewed differential Mill Rates and differential assessment levels. Their
final recommendation was for continuation of the Home-Owner Grant and 100%

assessments.

The Council must pass a By-law setting out the method of assessment by November 10th,
however we have just received a letter from the Minister of Municipal Affairs
requesting that this be done and forwarded to. the Assessment Commissioner on or-
before October 2ist. This may not be possible without Special Meetings of Council,
however, it indicates the urgency of a decision on this matter.

I£ Council concurs with the recommendation of the Finance Committee to adopt

Option 'D’, a resolution should be passed instructing the Clerk to prepare the

necessary By-law.

L.D. Pollock