City budget facts and figures

What will a three per cent tax rate and 7.8 per cent tax levy increase mean to homeowners in terms of dollars and cents?

Here are some examples, presented at Thursday night's budget meeting by treasurer Brian Rogers, using a house assessed at $100,000:

Let’s say that house had no assessment change. The final 2003 levy would have been $1,719. The 2004 municipal levy change adds another $41, bringing the final levy to $1,760. This amount doesn’t include the provincial education tax, which hasn’t been determined yet.

If assessment went down from $100,000 to $95,000, on the other hand, the $41 levy change would remain in place, but the $1,719 levy from 2003 drops by $88 leaving a $47 net decrease in the final levy, bringing it down to $1,672.

It’s a different story, though, if assessment goes up from $100,000 to $109,700.

The increased reassessment means a levy hike of $171, plus the $41 municipal levy change, for a grand total of $212, and a final 2004 levy of $1,931.

A 20 per cent assessment increase to $120,000 means a total increase of $393 over 2003 and final levy of $2,112.

Budget adjustments per city business unit:

Public works and Services: $99,053;
Engineering and Environmental Services: $266,300;
Community Services: $707,818;
Corporate Services: $210,100;
General Government: $700, 872;
ABCs to Feb. 5: $174, 224.

Total reductions: $2,158,367
Total operating budget 2004: $87,223,546.

BayToday.ca will have more on the budget later this morning.