City of Barrie - File #: FIN002-25

• File #: FIN002-25
• Version: 1
• Type: Staff Report
• Status: Agenda Ready
• File created: 3/17/2025
• In control: General Committee
• On agenda: 4/2/2025
• Title: TAX RATIOS 1. That the tax ratios for the 2025 taxation year be established as follows: a) Residential 1.000000 b) New Multi-residential 1.000000 c) Multi-residential 1.000000 d) Commercial 1.433126 e) Industrial 1.516328 f) Pipelines 1.103939 g) Farmlands 0.250000 h) Managed forest 0.250000 i) Landfills 1.067122 2. That two sub-classes for Farmland Awaiting Development be maintained in each of the multi- residential, commercial, and industrial property classes at the following discounts: Phase I - 25% discount from the residential tax rate; and, Phase II - 0% discount from the applicable property class tax rate. 3. That the City of Barrie (City) continue with its existing Rebates for Charitable and Non-Profit Organizations Program providing a tax rebate at a rate of 40% of the current year's taxes applicable only to the leased space occupied by the organization and that the eligible organizations continue to submit an annual application and provide evidence of ...

Title

TAX RATIOS

1.                     That the tax ratios for the 2025 taxation year be established as follows:

a)                     Residential                                                               1.000000

b)                     New Multi-residential                     1.000000

c)                     Multi-residential                                          1.000000

d)                     Commercial                                                               1.433126

e)                     Industrial                                                                                    1.516328

f)                     Pipelines                                                                                    1.103939

g)                     Farmlands                                                                                    0.250000

h)                     Managed forest                                          0.250000

i)                     Landfills                                                                                    1.067122

2.                     That two sub-classes for Farmland Awaiting Development be maintained in each of the multi- residential, commercial, and industrial property classes at the following discounts:

Phase I - 25% discount from the residential tax rate; and,

Phase II - 0% discount from the applicable property class tax rate.

3.                     That the City of Barrie (City) continue with its existing Rebates for Charitable and Non-Profit Organizations Program providing a tax rebate at a rate of 40% of the current year’s taxes applicable only to the leased space occupied by the organization and that the eligible organizations continue to submit an annual application and provide evidence of taxes paid satisfactory to the Director of Finance or their designate.

4.                     That the City Clerk be authorized to prepare all necessary by-laws to establish the 2025 tax ratios. (FIN002-25).