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Annual Municipal Property Tax Increase

“Annual municipal property tax increase equal to or less than the Municipal Price Index (MPI)” is a target to keep annual property tax increases less than the annual inflation rate for city costs.  The target measures success in controlling costs.

How are we doing? 

 

The total increase in 2018 is 3.79%. The distribution of each dollar within this tax rate is as follows: 6% Library, 39% Education, and 55% Municipal.

Data Table
Annual Property Tax Increases
2010 2011 2012 2013 2014 2015 2016 2017 2018
3.86 3.99 4.0 3.73 3.14 3.19 1.81 2.89 3.79


Description

The target is to keep annual municipal property tax increases less than the annual inflation rate for City costs (MPI) and measures success in controlling costs. Setting a target for a maximum municipal property tax increase provides specific direction to City Council and the Administration during budget preparation and deliberations. 

MPI is calculated annually based on the inflation rate for municipal costs, such as labour and fuel.