THE CORPORATION OF THE CITY OF PORT COQUITLAM

NOV 16 183%

B. Kirk, November 10; 1981.
City Administrator.

FROM: J. Maitland,
City Treasurer.

RE: 1982 Assessment Options

Council on September 28th, 1981 passed a resolution that we change
to Assessment Option 'C' for. 1982. This was passed, based on last years
information and a fixed guideline of November 10, 1981 to have a by-law in
place. Since that time the province has extended the deadline to November
30, 1981 and supplied a study of values for 1982,

Attached is a table which shows the percentage tax share from 1981
by classification of property. This means for example, that if we switched
to option 'A’ ‘the residential preperties which as a whole contributed 82%
of our total general taxes in 1981 would contribute 19.4% less or 66.1% in
1982. On option 'C' residential will contribute 4.2% less or 78.5% of the

‘total requirement,

. Basically the ‘average’ house general taxes would decrease from $569
in 1981 ta:
Option ‘aft $44.
Option 'c' $527
Option 'D' $562
in 1982, not allowing for any increase other than choice of assessment option
and growth (new assessments).

While these figures all look good, a more realistic 30% increase in
general taxes shows the $569 in 1981 becoming:
Under option 'A’ $577 in 1982
~ "Ch $685 "
ip! $731 w

La VE pale ai

J. Maitland.
JM/ms | Nort, See Bveaw 1869

Attachment
att ac hed.

Cita Cecry