B

2013 BUDGET WORKSHEET

OPERATING BUDGET
Step 1 . Accepting the Level of Base Budget Increases
1.A Starting Point - Budget Documents as Submitted:
2012 Base Budget with Assessment Growth $119,603,168
2012 Assessment Growth (400,000)
2012 Final Approved Budget $119,203,168
The impact of reassessment, together with the approved Tax Ratio Reduction Policy,
has the follOWing average impact on the various tax classes even before any increase is
made to the 2013 Budget:
Reason for Residential Multi Res Commercial Industrial
,
Impact % $ % $ % $ % $
Reassessment 0.52% $13.13 2.34% $1,402.98 2.40% .$135.99 (8.37)% $(2,351.21)
Tax Policv 1.24% $31.68 (2.28)% $(1,368.55) (1.40)% $(79.39) (3.52)% $(987.89)
Total 1.76% $44.81 0.06% $34.43 1.00% $56.60 (11.89)% $(3,339,10)
"The City is currently in the 5
th
year of a 12 year plan approved through the Property
Tax Ratio Reduction Policy. Details of this Policy are outlined on Page 19 of this
worksheet.
1.8 The 2013 Operating Budget, as submitted, includes the following items:
Item Impact on 2013 Workbook Electronic Amount
Budget Reference Page Ref.
i) Base Budget Increases!
Increase Tab as labeled 484-487 $ 5,666,632
Decreases
Ii) Fee Increases Decrease Tab as labeled 517 $ (639,622)
iii)Recommended
Decrease Tab as labeled 526 $ (2,025)
Service Reductions
Total Increase $ 5,024,985
The total of these items brings the 2013 Budget to:
I $ 124,228,153
Budget
Impact
Average
Res. Tax
Impact
Average
Res. Tax
Increase
1.C On December 17
th
, 2012, City Council approved to reduce the 2013 BUdget by
$1,800,000, comprised of a $1.5 million decrease in transfers to Capital, and $300,000
in other departmental reductions to be identified later.
The total of these reductions brings the 2013 Budget to:
STATUS AFTER DEC 17
I $ 122,428,153
Starting Point - January 15
th
, 2013
1.0 Assessment growth for 2012 has been finalized since the distribution of the budget documents.
Additional assessment growth realized amounts to $70,260.
Furthermore, other departmental reductions identified since the distribution of the budget
documents total $660,326 exceeding the $300,000 required in Section 1.C on the
previous page by $360,326.
Other departmental REDUCTIONS have been achieved because of the following:
a) Building Department-Elimination of Vacant Inspector Positions
b) Corporate Insurance Premium Reduction
c) Parks & Recreation - Net Impact of Elimination of Director Position
d) Planning Department - Demolition Control Permit Fee Increase
e) Sanderson Centre Reduction - Receipt of Operating Grant
f) Social Housing-Reduction in Work Week Maintenance Hours
g) MPAC Fee Reduction
h) Social Housing-Tax Differential on Affordable Housing Units
i) Facilities Management - Budget Adjustment
j) Net Increase to Payments in Lieu (PI LS) Revenue
"Budget reduction already approved by Council
Budget
Impact
$ 31,653'
$ 56,000'
$145,045'
$ 4,400'
$ 35,000
$ 12,637
$ 41,200
$ 10,875
$ 23,816
$299,700
$660326
Average
Res. Tax
Impact'
Average
Res. Tax
Increase
1.E Updated 2013 Net
Expenditures
(At the Conclusion
of Step 1)
I $122,067,827 12.00% 114.20% II $107.20
3
STEP 2 - FEE INCREASES & RECOMMENDED
SERVICE LEVEL REDUCTIONS
2.A Council is reminded that many 2013 fee increases were approved through the early fees
and charges bylaw presented to Council on August 27"', 2012 and these are included in
the base budget adjustments in the previous section (1.B.i).
Additional fee increases and recommended service level reductions presented below
have been used to meet the budget increase target outlined in Step 1, however they still
require Council approval.
Does Council wish to APPROVE all Fee Increases and Recommended Service Level
Reductions proposed below to keep the budget at the level identified at the end of Step
1?
YES D
If yes, move to Step 3. If no, Committee should select which fees below will not
be accepted and will be added back to the budget.
WORKBOOK
PAGE
ELECTRONIC
2013 BUDGET ADD BACK TO
2013 PROPOSED FEE INCREASE
REFERENCE
PAGE
IMPACT THE 2013 BUDGET
(behind "Proposed REFERENCE
Fee Increase" Tab)
1. Planning Application Fee
Page 2 Page 518 $ 208,645
YESDNOD Increase
2. Sanderson Centre - Royalty
Page 3 Page 519 $ 3,000
YESDNOD Fees
3. Transit Fare Increase (10%) Page 4 Page 520 $ 200,000
YESDNOD
4. Eliminate Discount -Early
Page 5 Page 521 $ 20,000
YESDNOD Payment of Parking Fines
5. Increase Parking Fees Page 5 Page 521 $ 60,000
YESDNOD
6. Farmer's Market Stall Fees
Page 6 Page 522 $
YESDNO D (gross $3,829)
-
7. Airport Commercial Rent
Page 6 Page 522 $ -
YESDNO D Increase (gross $8,000)
8. Development Review Fee
Page 7 Page 523 $ 137,767
YESDNO D Increase
9. Duplicate Tax Receipt Fee Page 8 Page 524 $ 105
YESDNO D
10. Duplicate Tax Bill Fee Page 8 Page 524 $ 105
YESDNOD
11. Tax Sale Scale of Costs Page 9 Page 525 $ 10,000
YESDNO D
TOTAL $ 639,622
4
WORKBOOK
PAGE
2013 RECOMMENDED SERVICE LEVEL
REFERENCE
ELECTRONIC
2013 BUDGET ADD BACK TO
REDUCTION
(behind
PAGE
IMPACT THE 2013 BUDGET
"Recommended REFERENCE
Service level
Reduction" Tab)
12. Reduction in Winter Hours at
Page 2 Page 527 $ 2,025 YESDNOD
the Visitor & Tourism Centre
L..---.JI DDI------J
2.8 Updated 2013 Net
Expenditures
(At the conclusion of Step 2)
Budget
Impact
Average
Res. Tax
Impact
Average
Res. Tax
Increase
5
STEP 3 - UNMET NEEDS
3.A Staff submitted a total of $680,896 in Unmet Needs for consideration. These Unmet
Needs are separated below in the following categories:
1. Council Priorities
2. Revenue Generation
3. Wellness/Health & Safety
4. Further Consideration
3.8 Does Council wish to approve the following Unmet Need that is identified as a Level 1
Priority for this term of Council?
WORKBOOK
APPROVED
DESCRIPTION
PAGE
ELECTRONIC 2013 INCREMENTAL
UNMET NEED
OF DEPT.
REFERENCE
PAGE BUDGET 2014 BUDGET
IN THE 2013
UNMET NEED (behind ~ U n m e t REFERENCE IMPACT IMPACT
BUDGET
Needs
K
Tab)
36.1
Neighbourhood Ontario
Page 2 Page 529
$92,464
YesD NoD Hub Works annual
none
3.e Does Council wish to approve the following Unmet Need that will become revenue
generating in 2015?
WORKBOOK
APPROVED
DESCRIPTION
PAGE
ELECTRONIC 2013 INCREMENTAL
UNMET NEED
OF DEPT.
REFERENCE
PAGE BUDGET 2014 BUDGET
IN THE 2013
UNMET NEED (behind Unmet REFERENCE IMPACT IMPACT
BUDGET
Needs' Tab)
Accreditation
Process
John
3C.1
becomes revenue
Noble Page 3 Page 530 $4,302 $6,453
YesDNoD
generating in 2015 Home
(52,151)
6
3.0 Does Council wish to approve any of the following Unmet Needs that are
Weliness/Health & Safety related?
WORKBOOK
APPROVED
DESCRIPTION
PAGE
ELECTRONIC 2013 INCREMENTAL
UNMET NEED
OF DEPT. REFERENCE
PAGE BUDGET 2014 BUDGET
IN THE 2013
UNMET NEED (behind "Unmet REFERENCE IMPACT IMPACT
BUDGET
Needs" Tab)
30.1
Two Sworn
Police Page 4 Page 531 $39,852 $117,004
YesDNoD Police Officers
Increase
30.2
Personal John Noble
Page 5 Page 532 $50,321 $11,272
YesDNo D
Support Home
Worker Hours
Strategic Planl
John Noble
$57,360
30.3 Operational Page 6 Page 533 $(57,360)
YesDNo D
Review
Home

Passenger
John Noble
$48,756
30.4 Bus for Day & Page 7 Page 534 $(48,756)
YesDNo D
Stav ProQram
Home '
Health &
Human
30.5 Safety
Resources
Page 8 Page 535 $41,326 $24,110
YesDNoD
Specialist
3.E Does Council wish to approve any of the following other Unmet Needs?
WORKBOOK
APPROVED
DESCRIPTION
PAGE
ELECTRONIC 2013 INCREMENTAL
UNMET NEED
OF DEPT.
REFERENCE
PAGE BUDGET 2014 BUDGET
IN THE 2013
UNMET NEED (behind "Unmet REFERENCE IMPACT IMPACT
BUDGET
Needs
n
Tab)
Human
YesDNoD
3E.1 Resources Police Page 9 Page 536 $45,540 $57,431
Professional
Staff
John
3E2
Education
Noble Page 10 Page 537 $16,161 $5,818
YesDNoD
Coordinator
(Part Time)
Home
Library
Services
$25,200
YesDNo D
3E3 Revenue Library Page 11 Page 538 none
Stabilization
annual
Reserve Fund
3E4
Emerald Ash Parks &
Page 12 Page 539
$195,000
none
YesDNo D
Borer Strategy Rec annual
3E5
New Forest In Parks &
Page 13 Page 540 $19,760 $(5,000)
YesDNoD
The City Rec
Increase to
YesDNoD
3E6
Sports Parks &
Page 14 Page 541
$22,724
none
Council Rec annual
Grants
Increase to
Economic
YesDNoD
Museum
Oevelop-
$2,040
3E.7 Funding
ment &
Page 15 Page 542
annual
none
Agreements
Tourism
(2%)
7
3.E.... Continued
WORKBOOK
APPROVED
DESCRIPTION
PAGE
ELECTRONIC 2013 INCREMENTAL
UNMET NEED
OF DEPT.
REFERENCE
PAGE BUDGET 2014 BUDGET
IN THE 2013
UNMET NEED (behind REFERENCE IMPACT IMPACT
BUDGET
Needs" Tab)
Community
Economic
YesD No D
Cultural
Develop-
$890
3E.8 Investment
ment&
Page 16 Page 543
annual
none
Program
Tourism
Increase (2%)
Staff Training
Capital
3E.9 &
Planning
Page 17 Page 544
$9,000
none
YeSDNO D
&GIS annual
Development
Services
Accounts
Nn n
3E.10
Pavable Clerk Finance
- Part-Time to
10 r v-h}
'" IU,LUU
"'O,UOO L....J L....J
Full-Time Request '0 be discussed at 11 e January 23
rd
mee ing of the Huma Resources Commitl
3.F Since the distribution of the Budget Documents, the following Unmet Needs have been
referred to the Estimates Committee by Council:
DESCRIPTION WORKBOOK ELECTRONIC 2013 INCREMENTAL
APPROVED
OF DEPT. PAGE PAGE BUDGET 2014 BUDGET
UNMET NEED
UNMET NEED REFERENCE REFERENCE IMPACT IMPACT
IN THE 2013
BUDGET
3F1
Internal Audit
Finance nfa nfa
$50,000
YesD NoD Consultant annual
none
Heritage
$25,000
YesDNoD
3F.2 Financial Planning nfa nfa none
Incentive Prqm
annual
3.G The following funding requests were made by delegations on January 15
th
. Does
Council wish to approve any of the following?
DESCRIPTION OF
2013 INCREMENTAL
APPROVED FOR
REQUEST
BUDGET 2014 BUDGET
2013 BUDGET
IMPACT IMPACT
3G.1 (to be populated after delegation cutoff on Jan 15")
YesD NoD
3G.2
YesD NoD
3G.3
YesD NoD
3GA
YesDNoD
3G5
YeSDNOD
8
COUNCIL'S OPPORTUNITY TO PROVIDE
ADDITIONAL UNMET NEEDS
3.H Does Council wish to consider any other Unmet Needs that have not been identified by
Staff?
YES D NoD
If Yes - Members of Council should identify the Unmet Need(s) they would like
considered for further discussion.
If No - proceed to Step 4,
DESCRIPTION
APPROVED INCREASE TO THE
OF UNMET DEPARTMENT AMOUNT
2013 BUDGET
NEED
Council's approval of Unmet Needs has
resulted in the following actual dollar value:
,-----------,I DOII...---
3.1 Updated 2013 Net
Expenditures
(At the conclusion of Step 3)
Budget
Impact
Average
Res. Tax
Impact
Average
Res. Tax
Increase
9
STEP 4 - COUNCIL'S OPPORTUNITY
TO PROVIDE ADDITIONAL
BUDGET REDUCTIONS
4.A Does Council wish to make any additional Expenditure Reductions to the
submitted 2013 Operating Budget that have not been identified by staff?
YES D NO D
If YES, Council should identify and approve the specific "Unidentified"
Expenditure Reductions".
ADDITIONAL EXPENDITURE REDUCTIONS
AMOUNT
BY COUNCIL
1.
$
2. $
3. $
4. $
5. $
4.8 Council's approval of "Other Reductions"
has resulted in the following actual
dollar value:
'----_1000
4.C Updated 2013 Net
Expenditures
(At the conclusion of Step 4)
Budget
Impact
Average
Res. Tax
Impact
Average
Res. Tax
Increase
10
STEP 5 - CONTINUUM OF SERVICES
5.A The Continuum of Services is a document that was originally developed in 2005 that
groups all the services that the City provides into one of five categories; from the least to
most discretionary, as follows:
1. Legislative requirements
2. Core function for all organizations
3. Core function for municipalities
4. Highly desirable
5. Like to do if possible
Direction was initially given by Council in June to update the Continuum of Services,
and provide detailed information on those services that are the most discretionary
(identified as those that are "highly desirable", or "like to do if possible"). The
Continuum would then become the tool to identify potential reductions that could be
used to achieve the 2013 Budget target.
The updated Continuum was provided to Members of Council in November; however, it
became clear that the elimination of many services outlined on the Continuum could
require a significant amount of lead time. Depending on the services Council were to
choose, if any, opportunities for savings in 2013 could be limited. As such, the
Committee must give direction to staff in order for them to have time to implement any
reductions for the 2014 Budget.
In addition, Council has since approved additional budget reductions that could
potentially achieve the target for 2013 without the use of the Continuum. As such,
Council approved the following recommendation from the Estimates Committee on
December 17'h,
"THAT the Estimates Committee BE DIRECTED to identify Continuum of Services
items that are needed to meet the 2014 bUdget target of 1.54% and report back to
Council in January, 2013."
5.B Which of the folloWing services, if any, does the Estimates Committee wish to identify to
provide reductions needed to meet the 2014 Budget target?
Level 5 Services - Like to Do if Possible (Level 5)
Identify for
Continuum 2013
potentiat
ACTIVITY
Page Operating Ranking
reduction in
Reference Budget
2014 Budget?
5B.1 Horticultural Maintenance 3 812,130 6.27 YeSDNoD
5B.2
Community Banner & Sign
13 10,505 6.25
YeSDNoD
Program
11
Continuum 2013
Identify for
Page Operating Ranking
potential
ACTIVITY reduction in
Reference Budget
2014 Budget?
5B.3 Tournament Capital of Ontario 23 82,955 5.76
YesDNoD
5B.4 Brantford Airport 33 0 5.49
YesDNoD
58.5
Northridge Municipal Golf Course
43 0 5.49 YesD NoD
& Learning Centre
58.6 Arrowdale Municipal Golf Course 53 0 5.38
YesD NoD
58.7 Skate Park 63 3,000 5.25
YesD NoD
58.8 Employee Awards Night 73 23,250 5.12
YesD NoD
58.9 Earl Haig Family Fun Park 83 79,215 5.12
YesD NoD
58.10 Community Halls 93 4,335 5.06
YesD NoD
58.11 Support to Minor Sports Grants 103 227,240 4.98
YesDNoD
58.12 Canada Day 113 40,600 4.98
YesDNoD
58.13
Tourism Programs &
123 699,408 4.92
YesDNoD
Administration
58.14 Volunteers Appreciation Night 134 10,875 4.87
YesDNoD
58.15 Walk of Fame 144 2,500 4.83
YesDNoD
58.16 Business Resource Centre 154 123,984 4.77
YesDNoD
58.17 Sports Hall of Recognition 165 2,545 4.72
YesD NoD
58.18 Social Planning 175 25,441 4.67
YesD NoD
58.19
Communications & Customer
185 275,401 4.64
YesDNoD
Service
58.20 Support to Arts - Arts Grants 195 171,550 4.63
YesDNoD
12
Continuum 2013
Identify for
Page Operating Ranking
potential
ACTIVITY reduction in
Reference Budget
2014 Budget?
58.21
8rant- 8rantford Impaired Driving
207 4,407 4.25 YesD NoD
Advisory Committee
58.22 After School Program 217 16,660 4.18 YesD NoD
Level 4 Services - Highly Desirable
Continuum 2013
Identify for
Page Operating Ranking
potential
ACTIVITY reduction in
Reference Budget
2014 Budget?
Municipal Housing 8SAR
3 (26,990) 5.98
YesD NoD
58.23 Properties
58.24 Resurrection Community Centre 13 22,880 5.98
YesD NoD
58.25 Wayne Gretzky Fields 23 6,200 5.92
YesD NoD
58.26 Aquatics & Fitness Programs 33 1,570,015 5.88
YesD NoD
58.27
Support to 8rantford Public
43 3,998,274 5.83
YesD NoD
Library
58.28 Municipal Housing Robertson Ave 53 (16,234) 5.77
YesD NoD
58.29 Transit Services 63 4,124,097 5.77
YesD NoD
58.30 Lions Park Arena 73 211,178 5.69
YesDNoD
58.31 Mohawk Park Pavilion 83 8,250 5.67
YesDNoD
58.32 8rantford & District Civic Centre 93 352,358 5.61
YesDNoD
58.33 8ranlyn Community Centre 103 148,735 5.61
YesD NoD
58.34
Doug Snooks Eagle Place
113 143,642 5.59
YesD NoD
Community Centre
13
Identify for
Continuum 2013 potential
ACTIVITY
Page Operating Ranking reduction in
Reference Budget 2014 Budget?
5B.35 Woodman Community Centre 123 152,133 5.52
YesDNoD
5B.36 Beryl Angus Municipal Centre 133 59,722 5.48
YesDNoD
5B.37
Costain I Johnson Community
143 105,583 5.45
YesDNoD
Centre
5B.38 Cockshutt Park 153 19,000 5.38
YesDNOD
5B.39 Sanderson Centre 163 660,580 5.38
YesDNOD
5B.40 Wayne Gretzky Sports Centre 173 452,603 5.28
YesDNOD
5B.41 Wellness Programs 183 2,000 5.24
YesDNoD
5B.42 Beckett Adult Leisure Centre 193 344,663 5.18
YesD NoD
5B.43 Mohawk Park 203 121,580 5.13
YesD NoD
5B.44 Glenhyrst Gardens 213 68,630 5.11
YesDNoD
5B.45 Harmony Square Maintenance 223 218,240 5.08
YesDNOD
5B.46 Animal Control 233 255,769 4.88
YesDNoD
5B.47 Ec Dev Admin & Bus Promotion 243 597,254 4.71
YesDNoD
5B.48 Harmony Square Programming 253 80,965 4.66
YeSDNOD
5B.49 Downtown Revitalization 263 108,884 4.63
YesDNoD
5B.50 Forestry Services - Tree Planting 273 117,100 4.55
YesDNoD
5B.51 Woodman Park Pool 283 17,550 4.54
YeSDNOD
5B.52 Jaycees Sports Park 293 (6,800) 4.53
YesDNoD
5B.53
Special Assistance - Ontario
303 281,395 4.50
YesDNOD
Works
14
Continuum 2013
Identify for
Page Operating Ranking
potential
ACTIVITV reduction in
Reference Budget
2014 Budget?
5B.54 Community Recreation Programs 313 118,587 4.49
vesDNoD
5B.55 Affordable Housing Program 323 161,020 4.46
vesDNoD
5B.56
Bell Homestead & Homestead
333 126,268 4.43
VesDNoD
Cafe
5B.57 Steve Brown Sports Complex 343 (22,600) 4.29
vesDNoD
5B.58 Lottery Licencing 353 46,452 4.26
VesDNoD
5B.59
Emergency Hostel Top Up -
363 206,774 4.16
VesDNoD
Ontario Works
5B.60 Brownfields Planning 373 93,058 4.16
VesDNoD
5B.61
Parks & Recreation
383 1,178,130 4.15
vesDNoD
Administration
5B.62
Ontario Works Homelessness
393 193,073 3.92
vesDNoD
Programs
5B.63 CAO's Office 403 436,871 2.81 vesDNoD
15
STEP 6 - 2013 CAPITAL BUDGET
6.A The 2013 submitted Capital Budget totals $30,091,783 and can be summarized as
follows:
Capital Funding Sources
No. of
Binder
Electronic
Page Ref.
Total Capital
Current Year
Commission Projects
(behind
Page
Budget
Capital
Reserve Other
MCapital Reference
Funds

Envelope
Tab
Corporate
7 1 546 $2,190,000 $758,000 $1,357,000 $75,000
Services
Public
Health,
Safety &
.7 1 546 $1,054,021 $953,720 $100,301 $0
Social
Services
Community
12 2 547 $1,435,000 $910,000 $401,870 $123,130
Services
Public Works 82 3-6 548-551 $25,412,762 $7,395,517 $18,017,245 $0
TOTAL 108 $30,091,783 $10,017,237 $19,876,416 $198,130
Details on individual projects submitted can be found as follows:
Hardcopy Version - 2013 Capital Binder behind the "Year 1 Funded Capital" tab
Electronic Version - Pages 552-659 (all of which are also linked from summary pages)
6.B Since the distribution of the budget documents, the cost estimates for the folloWing
projects have been revised:
Funding Sources
Capital
Binder
Electronic Submitted Revised Federal Water Sanitary
Project
Page Ref.
Page Project Project
Gas Tax Quality Collection
(behind "Year
Reference Budget Budget
Reserve Reserve Reserve
1 Funded
Capital" Tab)
Fund Fund Fund
Marlborough SI.
52 597 $326,000 $391,000 - $391,000 -
I {Fourth Ave to Park Rd N\
West SI. (Edmondson
51 596 $741,152 890,000 $610,200 $279,800 -
81. to Fairview Dr.)
SI. Paul Ave. (Sl.
53 598 $278,741 $380,000 - $380,000 -
Paul to Charinn Cross SO
Hillcrest Ave.
Ln to Shel1ard
49 594 $225,523 $271,000 $120,000 $151,000
-
Ln
Patterson Ave.
50 595 $537,112 $645,000 232,500 $412,500 -
I {Colborne Sl. to Grev Sl.\
Col borne SI. WWM
83 628 $100,000 $50,000 $50,000
Rehab (Peel to Murray)
- -
TOTAL $2,208,528 $2,627,000
16
6.C The revised 2013 Capital Budget totals $30,510,255. Does Committee wish to approve
the 2013 Capital Budget as revised?
YES D NO D
If "No", Committee must indicate which of the submitted projects are not approved:
Capital
Electronic
Binder Page
Project
Ref. (behind
Page Project Budget
~ Y e a r 1 Funded Reference
Capital- Tab)
6.0 Are there any Capital Projects the Committee wishes to consider that were not
presented in the submitted 2013 Capital BUdget?
Project Budget
Funding Approved for
Source 2013 Capital?
YesDNoD'
YesD No 0
YesDNoD
YesDNoD
YesDNoD
6.E Total 2013 Capital Budget at the end of Step 6:
17
TAX POLICY
18
Step 7 - Property Tax Ratio Reduction Policy
7. The following 12 year plan was approved by Council as part of the City's Strategic
Financial Plan to implement a Property Tax Ratio Reduction Policy:
Year 1 - 2009
Only apply the reduction of the residential tax grant as per Council direction from 2007
and reduce the industrial class tax ratio by only the legislated requirement if there is a
budget increase. This will result in a 2.2% or $50.00 tax bill increase to the average
residential taxpayer plus whatever the shift from the industrial property class may
require.
Year 2 - 2010
Only apply the reduction of the residential tax grant as per Council direction from 2007
and reduce the industrial class tax ratio by only the legislated requirement if there is a
budget increase. This again will result in a 2.2% or $50.00 tax bill increase to the
average residential taxpayer plus whatever the shift from the industrial property class
may require.
Year 3 - 2011
Reduce the industrial property class tax ratio to the threshold for the property class. This
will leave the commercial and multi-residential property class tax ratios at their current
level and reduce the industrial class tax ratio to 2.6300 from the current 2.9334. This
reduction will shift or increase by approx $30.00 or 1.3% the average residential
taxpayer's property taxes.
Year 4 - 2012
Reduce the commercial, industrial and multi-residential property class tax ratios by 10%
of the difference between the existing ratios and the 1.5000 equivalence target for the
tax ratios in the 3 business classes. This reduction will shift or increase by approx
$30.00 or 1.3% the average residential taxpayer's property taxes.
Year 5 to 12 - 2013 to 2020
Continue to reduce the commercial, industrial and multi-residential property class
tax ratios by the same percentages as they were reduced in 2012. This reduction
will shift or increase by approx $30.00 or 1.3%, per year, the average residential
taxpayer's property taxes.
19
Step 8 - Tax Policy
Impact of the Tax Shift Between the Industrial
and Residential Property Classes
8. The shifting of the 2013 property taxes as a result of the decisions made thus far in the
budget process are as follows:
2013 Net Expenditures
Percentage BUdget Increase
Residential Tax Change
Multi-Residential Tax Change
Commercial Tax Change
Industrial Tax Change
20
Step 9 . Operating & Capital Budgg!
Finalization
A vote is required approving the 2013 Operating Budget and 2013 Capital Budgets as
presented to the Estimates Committee at its meetings held November 15, 2012, and
amended at its meetings held November 19, 20, 22, and January 15, 2013.
The 2013 Net Operating Budget of $, ; and
The 2013 Capital Budget of $ _
21