Finance and Administration Committee Meeting

the development charges rates for Industrial and Non-Industrial were approved at 50% of the calculated rates in the 2019 development charges by-law in an effort to increase construction; AND WHEREAS industrial and non-industrial construction has not increased significantly as a result of that decision; AND WHEREAS the 2024 Development Charges Background Study recommends significant increases from the current reduced rates for industrial and non-industrial development; THEREFORE BE IT RESOLVED that the City of Greater Sudbury directs staff to present options for the potential phase in of Industrial and Non-Industrial development charges at the May 22, 2024 Finance and Administration Committee meeting.

the City of Greater Sudbury approves property tax ratios as follows where the Residential class is set at 1.000000: New Multi-Residential 1.000000 Multi-Residential 1.965000 Commercial 1.912000 Industrial 3.452729 Large Industrial 4.007861 Pipeline 2.179489 Farm 0.200000 Managed Forest 0.250000 AND THAT the necessary Tax Ratio by-law and Tax Rate by-law be prepared.

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.

WHEREAS the development charges rates for Industrial and Non- Industrial were approved at 50% of the calculated rates in the 2019 development charges by-law in an effort to increase construction; AND WHEREAS industrial and non-industrial construction has not increased significantly as a result of that decision; AND WHEREAS the 2024 Development Charges Background Study recommends significant increases from the current reduced rates for industrial and non-industrial development; THEREFORE BE IT RESOLVED that the City of Greater Sudbury directs staff to present options for the potential phase in of Industrial and Non- Industrial development charges at the May 22, 2024 Finance and Administration Committee meeting.

THAT the City of Greater Sudbury approves property tax ratios as follows where the Residential class is set at 1.000000: New Multi-Residential 1.000000 Multi-Residential 1.965000 Commercial 1.912000 Industrial 3.452729 Large Industrial 4.007861 Pipeline 2.179489 Farm 0.200000 Managed Forest 0.250000 AND THAT the necessary Tax Ratio by-law and Tax Rate by-law be prepared.

THAT the City of Greater Sudbury use capping and clawback tools as follows: a. Implement a 10% tax increase cap b. Implement a minimum annual increase of 10% of current value assessment level taxes for capped properties c. Move capped and clawed back properties within $500 of current value assessment taxes directly to Current Value Assessment taxes d. Eliminate commercial and industrial properties that were at Current Value Assessment in 2023 from the capping exercise e. 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.