https://barrie.ca.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4542191&GUID=AD51ACBC-C72E-44E2-9D77-817BB5D3CB93Legistar15https://barrie.ca.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=4542191&GUID=AD51ACBC-C72E-44E2-9D77-817BB5D3CB93AD51ACBC-C72E-44E2-9D77-817BB5D3CB93-2023-02-22-19-47-47Title: 2020 TAX RATIOS AND CAPPING POLICIES 1. That the tax ratios for the 2020 taxation year be established as follows: a) Residential/farm property class 1.000000 b) New Multi-residential 1.000000 c) Multi-residential 1.000000 d) Commercial Occupied 1.433126 e) Industrial Occupied 1.516328 f) Pipelines 1.103939 g) Farmlands 0.250000 h) Managed forest 0.250000 2. That the capping program be funded by clawing back decreases from within the affected property tax classes. 3. That the recommended capping parameters for commercial and industrial properties be maintained, as follows: a) The property tax cap be set at an amount representing 10% of the previous year's annualized taxes; b) Any property within +/- $500 of the Current Value Assessment (CVA) taxes be moved directly to CVA taxation; c) Any property that reaches the CVA level of taxation be removed from the capping program; d) Exclude any property whose classification changes from capped to clawed back, or vice versa; e) A minimum cap of 10% of the previous year's CVA taxes; and f) Reassessment related increases for 20Wed, 22 Feb 2023 19:47:47 GMT