keoadmin
03-31-2008, 09:08 PM
Kingston City Council will consider the following motion at its meeting to be held on April 1, 2008.
-- Kingston Electors
City Council Meeting No. 09-2008
Tuesday, April 1, 2008
REPORTS
REPORT NO. 47 OF THE CHIEF ADMINISTRATIVE OFFICER (CONSENT)
2008 Tax Ratios
THAT Council approve the 2008 tax ratios as follows:
a. the residential and new multi-residential property classes be set at 1.0;
b. the farm and managed forest property classes be set at 0.25;
c. the industrial property classes be set at 2.63;
d. the commercial property class be set at 1.98;
e. the multi-residential property class be set at 2.675045; and,
f. the pipeline property class be set at 1.1728
- and further -
THAT a by-law be presented and given three readings: “A By-Law To Establish The 2008 Tax Ratios”, in order to
establish the 2008 tax ratios;
-and further -
THAT a by-law be presented and given three readings: “A By-Law To Establish A 10 Year Phase-In For The Multi-
Residential Property Class Tax Ratio”.
(The Report of the Commissioner of Finance and Corporate Performance (08-127) is attached as Schedule Pages 39-44)
(File No. CSU-F22-000-2008)
(See By-Law No. (1), 2008-85 and By-Law No. (2), 2008-86)
(d) 2008 Capping Parameters for Commercial, Industrial and Multi-Residential Properties
THAT the 2008 capping program be approved as outlined in this report and that the funding for capped properties be
provided from within each respective tax class;
- and further -
THAT a by-law be presented and given three readings to establish the 2008 optional capping parameters:
a) That the commercial and industrial property cap limits will be the greater of
i. 10% of previous year’s annualized (capped) tax, OR
ii. 5% previous year’s uncapped tax;
- and further -
b) That threshold limits apply to commercial and industrial capped taxes whenever capped taxes are within $250 of the uncapped tax;
- and further -
c) That new construction/new-to-class limits will be a minimum tax level of 100% of uncapped taxes, which will
apply to eligible properties commencing taxation for part or all of 2008.
(The Report of the Commissioner of Finance and Corporate Performance (08-128) is attached as Schedule Pages 45-49)
(File No. CSU-F22-000-2008)
(See By-Law No. (3), 2008-87)
-- Kingston Electors
City Council Meeting No. 09-2008
Tuesday, April 1, 2008
REPORTS
REPORT NO. 47 OF THE CHIEF ADMINISTRATIVE OFFICER (CONSENT)
2008 Tax Ratios
THAT Council approve the 2008 tax ratios as follows:
a. the residential and new multi-residential property classes be set at 1.0;
b. the farm and managed forest property classes be set at 0.25;
c. the industrial property classes be set at 2.63;
d. the commercial property class be set at 1.98;
e. the multi-residential property class be set at 2.675045; and,
f. the pipeline property class be set at 1.1728
- and further -
THAT a by-law be presented and given three readings: “A By-Law To Establish The 2008 Tax Ratios”, in order to
establish the 2008 tax ratios;
-and further -
THAT a by-law be presented and given three readings: “A By-Law To Establish A 10 Year Phase-In For The Multi-
Residential Property Class Tax Ratio”.
(The Report of the Commissioner of Finance and Corporate Performance (08-127) is attached as Schedule Pages 39-44)
(File No. CSU-F22-000-2008)
(See By-Law No. (1), 2008-85 and By-Law No. (2), 2008-86)
(d) 2008 Capping Parameters for Commercial, Industrial and Multi-Residential Properties
THAT the 2008 capping program be approved as outlined in this report and that the funding for capped properties be
provided from within each respective tax class;
- and further -
THAT a by-law be presented and given three readings to establish the 2008 optional capping parameters:
a) That the commercial and industrial property cap limits will be the greater of
i. 10% of previous year’s annualized (capped) tax, OR
ii. 5% previous year’s uncapped tax;
- and further -
b) That threshold limits apply to commercial and industrial capped taxes whenever capped taxes are within $250 of the uncapped tax;
- and further -
c) That new construction/new-to-class limits will be a minimum tax level of 100% of uncapped taxes, which will
apply to eligible properties commencing taxation for part or all of 2008.
(The Report of the Commissioner of Finance and Corporate Performance (08-128) is attached as Schedule Pages 45-49)
(File No. CSU-F22-000-2008)
(See By-Law No. (3), 2008-87)