Analysis of 2011 Property Tax Increase Requirement

A 1% property tax increase will generate:

January 18,2011 Total Tax

Requirement
2010 Property Tax budget for operations 72,208,683

Tax Increase
Explanation
(Decrease)
Bylaw staff approved in 2010 109,456
Fire Department staff increases 223,263
Municipal Election in 2011 114,800
Payroll and benefit cost increases for CUPE, IAFF and Management staff 1,460,669
RCMP Contract Increase (net of grant) 973,313
Reduced natural gas budget (125,746)
Slo Pitch Complex Total 90,472
TCC revenue budget increase based on prior year results Total (220,000)
Transit Contract increase (net of grant) Total 867,768
Transit revenue increases (214,193)
Increased capital funded from property taxes Total 207,838
Other budget changes (54,032)

Total change from operations 3,433,608

2011 Property Tax budget for operations 75,642,291

2010 Property Tax budget for capital 7,503,537

Change in property taxes for capital 239,838

2011 Property Tax budget for capital 7,711,375

Total Property tax increase for 2011 3,673,446

Anticipated taxes from growth (1,200,000)

Available unallocated gaming funds -

Net Property tax increase 2,473,446

Page 1 of 4
 Analysis of 2011 Property Tax Increase Requirement
A 1% property tax increase will generate:

January 18,2011 Total Tax

Requirement

Additional operating requests (98,665)

Additional capital requests 1,213,000

Total tax revenue required 3,587,781

Page 2 of 4
 $796,255

Property Tax % Increase

4.31%

0.30%

4.61%

-1.51%

0.00%

3.11%
Page 3 of 4
 $796,255

Property Tax % Increase

-0.12%

1.52%

4.51%

Page 4 of 4