Rules of Procedure
Councillor Mcintosh moved to waive reading of the resolution.
CARRIED
The following resolution was presented:
THAT the City of Greater Sudbury use capping and clawback tools as follows:
- Implement a 10% tax increase cap
- Implement a minimum annual increase of 10% of current value assessment level taxes for capped properties
- Move capped and clawed back properties within $500 of current value assessment taxes directly to Current Value Assessment taxes
- Eliminate commercial and industrial properties that were at Current Value Assessment in 2023 from the capping exercise
- Eliminate commercial and industrial properties that crossed between capping and clawback in 2024 from the capping exercise
AND THAT the necessary by-law be prepared;
AND THAT the following clawback percentages, as calculated by the Online Property Tax Analysis (OPTA) System, be adopted by the City of Greater Sudbury:
Commercial 33.3394%
Industrial 32.3023%
AND THAT the City of Greater Sudbury approves the recommendations as outlined in the report entitled “2024 Property Tax Policy”, from the General Manager of Corporate Services, presented at the Finance and Administration Committee Meeting on April 23, 2024.