Minutes
City Council
Monday, May 25, 2020
Report Number: C 87/2020
Clerk's File: MH/13786
11.2. 2020 Tax Policy Decisions and the Establishment of the 2020 Final Property Tax Rates - City Wide
Moved by: Councillor Gignac
Seconded by: Councillor Holt
Decision Number: CR266/2020
That City Council RECEIVE the information contained in the 2020 Tax Policy Report; and,
That City Council APPROVE the following Tax Policy Principles which have been used to calculate the 2020 Final property tax rates:
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That the Optional Tax Classes of office building, shopping center, parking lot/vacant land, and large industrial CONTINUE to be used in the establishment of annual property tax rates.
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That tax reductions for the first and second sub-classes of farmland awaiting development BE RECONFIRMED at their present level of 65% and 30% respectively.
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That Administration RETAIN a blended rate of 30% as the discount on excess commercial and vacant and excess industrial land.
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That the Municipality SET the threshold on the tax level for eligible new construction at 100%; and,
That City Council APPROVE the 2020 Total Tax Rates as presented in Table 1; and,
That City Council APPROVE the tax collection dates as presented in Table 2; and,
That City Council MAINTAIN the prescribed maximum rate for late payment charges as follows:
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1 ¼% of the amount of tax due and unpaid as a penalty for non-payment on the first day of default; and,
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1 ¼% of the amount of tax due and unpaid as interest for non-payment on the first day of each month; and,
That the City Solicitor BE AUTHORIZED to prepare the necessary by-laws.
Carried.
Report Number: C 44/2020
Clerk’s File: MH/13786 & AFB/13467
11.3. 2020 Business Improvement Area Budget and Levy Approvals - Wards 2,3,4,5 7 6
Moved by: Councillor Bortolin
Seconded by: Councillor Holt