Muncipal Tax Rates for Williams Lake - 2010 and 2011 Tax Years

Earlier today, I was left a comment around municipal tax rates and specifically residential/business rates going down - so as a public service, pls see below for all tax classes in Williams Lake for 2010/2011 Tax Years

Please note two things:

1) The rates quoted will be in $100,000 of assessed value  (buildings/land) due to BC Assessment measuring property values per $100,000

2) The rates quoted are for the City/Cariboo Regional District purposes only - they do not include tax rates charged by Victoria for School Taxes and the Muncipal Finance Authority

2010 Property Tax Rates:

Residential - $532.98 per $100,000 of assessed value
Business - $1,102.00 per $100,000 of assessed value
Light Industry - $3,371.00 per $100,000 of assessed value
Major Industry - $8,414.29 per $100,000 of assessed value
Recreation/Non Profit - $1,478.95 per $100,000 of assessed value
Farm - $1,830.28 per $100,000 of assessed value
Utilities - $4,000 per $100,000 of assessed value

2011 Property Tax Rates:

Residential - $526.03 per $100,000 of assessed value
Business - $1,120.44 per $100,000 of assessed value
Light Industry - $3,471.80 per $100,000 of assessed value
Major Industry - $8,842.58 per $100,000 of assessed value
Recreation/Non Profit - $1,483.38 per $100,000 of assessed value
Farm - $1,840.48 per $100,000 of assessed value
Utilities - $4,000 per $100,000 of assessed value

Final Analysis:

1) Residential rates from 2010 to 2011 went down due to higher property assessment from 2010 to 2011 but all other property tax classes went up to maintain the same level of money required to run the City and that is not good news as Light/Major Industry and Business, put together, count for more than 50% of property tax revenue for the City and as these property classes provided the majority of jobs in Williams Lake - continually rising property tax rates could force these property tax classes to make tough choices including leaving our community which inevitably has an impact on the residential property tax rate, regardless if your property assessment went up or down.

For the record - Industry (Major/Light), Business, Farm, Recreation/Non-Profit is a multiple of the residential rate (and yes, this is done province wide).  Also - the City is at the maximum allowed for the Utility tax rate of $40 per $1,000 of assessed property value or $4,000 per $100,000 of assessed property value

Source: April 19th WL Council Meeting Highlights