In a comparison of different municipalities, Maple Ridge’s business tax was the fifth lowest when compared to residential tax. However, when the amount of tax per $1,000 of assessed value was compared to neighbouring municipalities, Maple Ridge ranked 15 out 19.
At Monday’s workshop, council was reviewing a report from District of Maple Ridge staff about 2013 Business Class Municipal Property Taxes, and how they compare to other communities in the region.
Taxes were analyzed from three different perspectives: the municipal tax rates to see where the District ranks in comparison to other municipalities; the municipal tax rate assessed against one class, as compared to another class (in this case, the Business Class 6 municipal tax rate is compared to the Residential Class 1 municipal tax rate using a ratio that is referred to as the tax “multiple”); and a sampling of eight commercial businesses from within Maple Ridge; property assessments and municipal taxation and the year to year changes from 2009 to 2013.
While the District’s Business Class 6 multiple in 2013 ranks as fifth lowest, the municipal tax rate per $1,000 of assessed value ranks 15th out of the 19 municipalities surveyed for the report.
“The District looks at a number of key data points each year as part of our business and financial planning process,” said Maple Ridge Mayor Ernie Daykin. “Municipal tax rates, tax rate multiples, and assessed property values from around the region are reviewed so that council has all the information to ensure our community remains competitive within the marketplace.”
With respect to actual municipal property taxes, the municipal property taxes for eight sample properties within Maple Ridge were reviewed.
As there was some variability with the assessed property values for these properties, there was also some variability around the municipal property taxes as well.
This comparison and the data are presented annually to review the Business Class 6 municipal taxation levels for Maple Ridge as compared to other municipalities in the Lower Mainland.
@ Copyright 2013