HISTORY
The City in 1977 chose to go with Option 'D' the reasoning being:

1. That properties of equal value should be taxed. equally.

2. This method provides less taxes than the other options for
commercial and industrial properties. At that time it was
thought that this might provide an incentive for commercial
and industrial growth. :

The City in 1982 chose to go with Option 'C' the reason being
that residential properties in Port Coquitlam were paying a
higher share of taxes than surrounding municipalities which
are on option 'A', the City chose option 'C’ as a step towards

option ‘A'. .

For 1983 - Option Studies

NOTE: 1. In the attached studies options ‘at and 'B' are identical and
, interchangeable.

2. Any mention of taxes refers only to general taxes.

OPTION 'A' - The studies indicate that realistically there are only two
options 'C' and 'D' as the tax shift on option ‘A’ is too
drastic to even consider (see % tax share shift from 1932
roll, page 10 col. 8 and bar graphs on tax burden shifts ©
pages 21, 24 and 27).

OPTION 'c! The studies indicate a continued shift towards non-residential
properties as shown on the ‘Source of Taxes' and bar graphs on
tax burden shifts pages 25 and 28.

OPTION 'D' A change back to option 'D' would result in a fairly substantial
- reduction to non~residential properties and a relatively minor
(in relation) increase to residential properties.

For 1983 -— Variable Mill Rate

If the Province follows through on the proposed variable mill
rate for 1983 the assessment options will be meaningless and
actual values will be used for all classes of property with a
mill rate set by Council which could vary amongst the various
classes of property. While the variable mill rate is proposed
for next year we should still very seriously consider the assess—

ment options in case legislation is not through in time for next
year.

JM/ms
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