Class Notes (1,100,000)
CA (630,000)
U of G (30,000)
POLS (2,000)
Tim Mau (10)
Lecture

POLS 3270 Lecture Notes - European Cooperation In Science And Technology


Department
Political Science
Course Code
POLS 3270
Professor
Tim Mau

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MUNICIPAL REVENUE SOURCES
TWO MAIN SOURCES OF REVENUE
oOWN SOURCE
PROPERTY TAXES
VARIOUS CLASSES OF PROPERTY
USER FEES
85% OF REVENUES – UP FROM 49% IN
1975
oTRANSFER PAYMENTS
FEDERAL AND PROVINCIAL
GOVERNMENTS
OTHER SOURCES
oPRODUCE SALES (E.G. RECYCLABLES)
oSAVINGS & INTEREST

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MUNICIPAL REVENUE SOURCES
PROPERTY TAXES
TAX CLASSES
1. RESIDENTIAL
2. MULTI-RESIDENTIAL
3. COMMERCIAL
4. INDUSTRIAL
5. FARMLAND
6. MANAGED FOREST
7. PIPELINE PROPERTY CLASS
8. NEW MULTI-RESIDENTIAL
9. OFFICE BUILDING
10. SHOPPING CENTRE
11. PARKING LOTS &VACANT LAND
12. LARGE INDUSTRIAL
13. PROFESSIONAL SPORTS FACILITIES
EACH TAX CLASS HAS ITS OWN “TAX RATE”
“TAX RATE” REPLACES OLD “MILL RATE”
OLD SYSTEM - RESIDENTIAL MILL RATE = 85% OF
COMMERCIAL MILL RATE

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PROPERTY TAX ASSESSMENT
MUNICIPAL PROPERTY ASSESSMENT CORPORATION
(MPAC)
oNON-PROFIT CORPORATION FUNDED BY
MUNICIPALITIES
oDETERMINES CURRENT VALUE ASSESSMENT
(CVA) & TAX CLASSES FOR ALL PROPERTY IN
PROVINCE
CURRENT VALUE ASSESSMENT
oESSENTIALLY FAIR MARKET VALUE OF
PROPERTY
oCOMMON VALUATION DATE (JAN 1ST) – EVERY
YEAR
oNORMALLY UNDERESTIMATED
OMBUDSMAN’S REPORT (ANDRE MARIN)
FREEZE AS OF JUNE 1, 2006
FREEZE LIFTED JANUARY 1, 2008
NEW 4-YEAR PHASE-IN FOR ASSESSMENT
INCREASES
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