"fiscal policy"
3 agenda items mention this keyword
Amendment to Resolution CE-2026-675 Regarding Property Sub-categories, Tax Sectors, and 2027-2029 Assessment Roll Guidelines
The city is adjusting its property tax structure and assessment roll guidelines for 2027-2029 to ensure compliance with provincial tax laws and maintain fiscal stability. This follows challenges in 2026 where certain property categories hit maximum tax thresholds, creating potential revenue shortfalls.
budgetgovernance
Establishment of Property Sub-categories, Modification of Sectors for General Property Tax Purposes, and Guidelines for the 2027-2029 Property Assessment Roll
The council established new property tax sub-categories and sectors for the 2027-2029 assessment roll to ensure fiscal stability and compliance with provincial law. This measure includes maintaining a three-year phase-in for property value changes to protect taxpayers from sudden tax shocks.
budgetgovernance
Establishment of property sub-categories, modification of sectors for general property tax purposes, and guidelines for the 2027-2029 property assessment roll
The city is restructuring its property tax categories and sectors for the 2027-2029 assessment roll to comply with provincial law and ensure fiscal stability. This includes creating new sub-categories for residential properties (1-5 units, 6+ units, and non-residential) and maintaining a three-year phase-in for property value changes to protect taxpayers from sudden tax spikes. This decision aims to prevent the fiscal imbalances experienced in 2026 when certain property categories hit legal tax rate limits.
budgetgovernance