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    2011 City of Kamloops Tax and Levy Increases

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    Arjun Singh
    The document analyzes the property tax increase requirement for 2011. It shows that a 1% property tax increase would generate $3,526,400 in additional revenue based on increases in staffing costs, contracts, and capital expenditures. After accounting for tax revenue from growth and additional operating/capital requests, a total tax revenue increase of $3,286,608 is required, equivalent to a property tax percentage increase of 4.13%.

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    2011 City of Kamloops Tax and Levy Increases

    Uploaded by

    Arjun Singh
    210 views2 pages
    The document analyzes the property tax increase requirement for 2011. It shows that a 1% property tax increase would generate $3,526,400 in additional revenue based on increases in staffing costs, contracts, and capital expenditures. After accounting for tax revenue from growth and additional operating/capital requests, a total tax revenue increase of $3,286,608 is required, equivalent to a property tax percentage increase of 4.13%.

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    The document analyzes the property tax increase requirement for 2011. It shows that a 1% property tax increase would generate $3,526,400 in additional revenue based on increases in staffing costs, contracts, and capital expenditures. After accounting for tax revenue from growth and additional operating/capital requests, a total tax revenue increase of $3,286,608 is required, equivalent to a property tax percentage increase of 4.13%.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    210 views2 pages

    2011 City of Kamloops Tax and Levy Increases

    Uploaded by

    Arjun Singh
    The document analyzes the property tax increase requirement for 2011. It shows that a 1% property tax increase would generate $3,526,400 in additional revenue based on increases in staffing costs, contracts, and capital expenditures. After accounting for tax revenue from growth and additional operating/capital requests, a total tax revenue increase of $3,286,608 is required, equivalent to a property tax percentage increase of 4.13%.

    Copyright:

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    Download as PDF, TXT or read online from Scribd
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    of 2

    Analysis of 2011 Property Tax Increase Requirement

    A 1% property tax increase will generate:

    Total Tax
    Requirement
    2010 Property Tax budget for operations 79,712,220

    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 180,472
    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 (51,240)

    Total change from operations 3,526,400

    2011 Property Tax budget 83,238,620

    Total Property tax increase for 2011 3,526,400

    Anticipated taxes from growth (1,200,000)

    Net Property tax increase 2,326,400

    Additional operating requests (252,792)

    Additional capital requests 1,213,000

    Total tax revenue required 3,286,608

    Page 1 of 2
    $796,255

    Property Tax % Increase

    4.43%

    4.43%

    -1.51%

    2.92%

    -0.32%

    1.52%

    4.13%

    Page 2 of 2

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