DocumentsStaff ReportApr 30, 2018Pages 34–35
Staff Report: 2018-2022 Five-Year Financial Plan Bylaw No. 1780 and 2018 Tax Rates Bylaw No. 1781
Finance staff report recommending that Council give three readings to the Five-Year Financial Plan Bylaw No. 1780 and the 2018 Tax Rates Bylaw No. 1781, and recommending the 2018 commercial class multiple be set at 2.90.
Key facts
- Report date header shows 30/04/2017 (context: relates to 2018 bylaws presented April 30, 2018)
- Recommendations: give Bylaw No. 1780 three readings; set commercial class multiple in 2018 at 2.90; give Bylaw No. 1781 three readings
- Prepared/submitted by Michael Dillabaugh, Director of Finance; concurrence from CAO Darren Kiedyk
Staff Report: 2018-2022 Five-Year Financial Plan Bylaw No. 1780 and 2018 Tax Rates Bylaw No. 1781
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Staff Report to Council
Date:
30/04/2017
Department:
Finance
Subject:
2018-2022 Five-Year Financial Plan Bylaw No. 1780 and 2018 Tax Rates Bylaw No. 1781
Background
The Community Charter requires councils to adopt a Five-Year Financial Plan (the Plan) each year and, after the adoption of the Plan but before May 15th, to adopt a tax rate bylaw. Bylaws No. 1780 and No. 1781 satisfy these requirements. Copies of these bylaws are attached.
Commentary
At the Regular Council Meeting on April 3, 2018, Council approved the 2018-2022 Five Year Financial Plan and directed staff to bring forward the 2018-2022 Five Year Financial Plan Bylaw, 2018 and the Tax Rates Bylaw 2018.
City of Langford 2018-2022 Financial Plan Bylaw No. 1780, 2018 gives authority for the City to spend for operating and capital purposes in 2018.
City of Langford Tax Rates Bylaw No. 1781, 2018 gives authority for the City to levy taxes for municipal, regional district and hospital purposes in 2018.
Council also considers the distribution of taxes among property classes with the objective of maintaining a stable and equitable burden. Council has determined that the burden on commercial properties is not competitive and has embarked on a program of reducing the commercial multiple by 0.05 each year for 10 years. The multiple has been set at 2.9 for 2018.
Options
That Council:
- Give City of Langford 2018-2022 Financial Plan Bylaw No. 1780, 2018 three readings, and
- That commercial class multiples in 2018 bet set at 2.90, and
- Give City of Langford Tax Rates Bylaw No. 1781, 2018 three readings
Respectfully Submitted,
Submitted by:
Michael Dillabaugh, CPA, CA, Director of Finance
Concurrence
Darren Kiedyk, Chief Administrative Officer
2018-2022 5-Year Financial Plan
April 30, 2018