TAMRMS#: B06
10.2
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Amendment to Council Policy C-FS-05 Budget & Taxation Guiding Principles - changes to threshold
Notice given by: Councillor Biermanski
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PROPOSED MOTION(S):
recommendation
That Council Policy C-FS-05, Budget & Taxation Guiding Principles, section 14(b)(v) is amended to change the threshold to be eligible to apply the prior year's assessment growth from 5% tax increase to 3.5% tax increase.
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ADMINISTRATION'S UNDERSTANDING OF THE INTENT OF THE MOTION
Administration understands that if this motion is approved C-FS-05 Budget and Taxation Guiding Principles, section 14, b, v. would be updated as follows
"Application of prior years assessment growth revenue may be considered if the proposed annual tax rate increase is in excess of 3.5 per cent. The funds approved by Council for withdrawal from the prior years unallocated assessment growth shall be only the amount required to limit the tax rate increase to 3.5 per cent subject to iv."
ADMINISTRATION'S RECOMMENDATION
In July, 2025, Administration brought forward a recommendation to increase the threshold to 6.5 per cent with Council approving an increase to 5 per cent. As the economic environment has not changed since that time Administration does not recommend a reduction.
PURPOSE OF REPORT
The purpose of this report is to present a motion for which Councillor Biermanski gave notice on March 3, 2026.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On July 15, 2025 Council passed the following motions:
CB-25-039
That Policy C-FS-05 be amended by deleting both instances of the number "3.5" and replacing them with "5.0" in section 14(b)(v).
That the following Council policies be approved:
C-FS-05 Budget and Taxation Guiding Principles, as amended; and
C-FS-01 Financial Reserves.
On April 23, 2018 Council passed the following motion:
POL-18-007
That City Council Policy C-FS-05 Budget and Taxation Guiding Principles section 14b. be amended by adding...
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