City of Timmins 2017 Tax Rate By-Law

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Presentation transcript:

City of Timmins 2017 Tax Rate By-Law

5 YEAR ASSESSMENT AND NET EXPENDITURE SUMMARY

BACKGROUND Large decrease in Assessment is magnified in the first year of the assessment cycle where all the reductions are recognized while the increases are phased in over four years 8.05% decrease in assessment in 2017 versus an average assessment increase of 6.16% over past four years Tax agreements with three mines allows us to lower the residential rate and the large industrial rate (residential increase was 8%- 10%)

EFFECT OF MOUs- ON TAX RATES

TOTAL TAX RATE COMPARISONS

TAX IMPACT ON MEDIAN TYPICAL PROPERTY