57:26
Revenue exceeds the midyear benchmark largely because the 2026 property taxes were levied in June. other revenues such as the LG FF operating grant, annual enforcement grant, intermunicipal collaboration framework with the county…
42:49
The municipal tax comprises 63% of a residence property tax bill. The amount of tax generated each year stays constant and added to that is the additional revenue generated from our growth and then any tax rate increase approved annually as part of the budget process.
2:56:27
The question becomes, do you look at a property tax increase now to start putting some money away to pay for that? Or do you wait until you want to pay for that, take out 100% of that money in debenture, and then do the operating or do the property tax…
57:49
Either one of you, I guess. Through to Chair to Councillor Blizzard, yes, essentially, that is correct. It is software that has many different modules that perform different functions, but these are like about the core businesses, so are utilities, billing, or property tax, billing,…
2:16:32
It's it's no different right now if you look at your property taxes as a contribution. Currently to the meridian housing foundation for our seniors housing that's just the commitment of all the community of partnering with housing foundations provide housing for those in our community that are slipping through the cracks.
1:39:09
But Council has an option for next year's budget if we want to use any of those operating reserves when we talk about tax rate and things like that.
2:40:25
As I think most of my colleagues know, property taxes were set up as the primary way of financing municipalities under the Baldwin Act of 1849, which I'm sure you've all read cohesibly.
1:06:58
The annual property tax bylaw sets out the assessed property values by class and calculates the tax rates required to raise the necessary budgeted tax revenue in accordance with the property tax policies.
2:14:05
For those who aren't aware, property assessed clean energy allows homeowners and potentially others to install everything from solar panels to energy efficiency upgrades up front not paying any of the costs and then having those costs assessed back in their property taxes.