Sunday, May 01, 2016

2016 Prelim Property Tax Calculators

by Jennifer Smith - Vernon Morning Star posted May 1, 2016 at 1:00 AM

Coldstream sets tax rates.
Coldstream taxes are climbing 3.5 per cent. Additionally, council approved a decrease in the tax multiplier for class 9 - farm. “Together, the average residential home assessed at approximately $491,473, (4.4 per cent increase over 2015) it is estimated that the average property will pay an additional $62 (or $1.19 per week),” said Pat Higgins, director of financial administration, in her report.
It appears that the Farm Tax Ratio in Coldstream has been reduced down to 3.80   (8.7691/2.3077= 3.80)
The Vernon Farm Tax ratio is .7942/3.6716 =  .2163.

/span>On Monday both Vernon Council and Coldstream Council passed 3 readings of the Property Tax rates as shown below.
THAT Bylaw #5592, "Tax Rates Bylaw Number 5592 —2016" — a bylaw for the levying of rates for Municipal,Hospital, Regional District and Specified Area purposes forthe Year 2016, be read a first, second and third time.(P. 119) 

195 - 199 5.c. District of Coldstream Tax Rates Bylaw No. 1680, 2016 Report from the Director of Financial Administration dated April 13, 2016 Bylaw 1680, a bylaw to establish the tax rates and provide for the payment of taxesfor the year 2016Bylaw 1680 (Three Readings)

The Only rates that have not been finalized are the School Rate (which traditionally has been increased by the Provincial CPI rate for 2015 1.9% estimated) and the BC Assessment rate which should be minimal change.   When these 2 rates are finalized the calculators below will be adjusted to reflect those changes. I have used a 1.9% School Tax Increase and will change when Finalized.

I have taken the liberty of using the proposed rates that were ratified to have interactive calculators made so you can see the effect of these property tax rate changes for 2016.: Simply put in the 2015 and 2016 tax assessments for land and Improvements in the YELLOW Sections ONLY and the calculator will spit out your taxes for 2016 .

Prelim   2015/16 tax Calculator Coldstream

Prelim  2015/16  tax calculator vernon residential

PRELIM  2015/2016  Vernon business class 6 tax calculator

PRELIM of 2016  comparison coldstream vs vernon residential calculator

The above calculator is an illustration of the the comparative tax rates between Coldstream and Vernon for your property assessments for land and Improvements. Find out what you would pay in Coldstream if you lived in Vernon and Vice versa.

Enjoy the Beta calculators and hopefully I have plugged in the rates properly. (Dam 6 and 8 tend to blur on rates sheets).

No comments: