City of Surrey's 2024-2028 Financial Plan

MAJOR REVENUE SOURCES

COMPARATIVE CHARGES ON A SINGLE FAMILY DWELLING Based on average assessment of the taxing authority

2023

Surrey

% Change

Langley Township

New Westminster

2023

2022

Burnaby

Richmond Coquitlam Delta

Average Assessment

$ 1,991,503 $ 1,485,086 $ 1,580,400 1,968,786 $ $ 1,695,540 $ 1,496,290 1,736,132 $ $ 1,539,883 12.7%

Levies for Other Authorities School

1,904

1,477

1,705

1,931

1,661

1,426

1,659

1,527

8.6% 9.2%

503 103

375

399

497 100

428

484

439

402

BCA, MFA and Other

76

85

87

77

88

78

12.8%

MVRD

2,510 2,914 5,424

1,928 2,488 4,416

2,189 3,952 6,141

2,528 3,202 5,730

2,176 3,135 5,311

1,987 2,895 4,882

2,186 2,602 4,788

2,007 2,310 4,317

8.9%

Total Levies for Other Authorities

12.6% 10.9%

General Municipal

Total Taxes User Rates

797 586

1,551

3,882

1,654

1,526

1,262

1,316

1,236

6.5% 1.1% 4.9%

Total Res. User Fees

-

-

-

-

-

542

536

Parcel Taxes

Total User Rates

1,383

1,551

3,882

1,654

1,526

1,262

1,858

1,772

Total Taxes and User Rates

$

6,807

$

5,967

$

10,023

$

7,384

$

6,837

$

6,144

$

6,646

$

6,089

9.1%

Source: City of Surrey Finance Department

2023 PROPERTY TAXES BY CLASS ASSESSMENT CODES Based on total taxes levied, including for other authorities, for the year 2023 ($966,811,867)

0.1%

Class 1 - Residential (62.9%)

28.0%

Class 2 - Utilities (3.0%)

Class 4 - Major Industry (0.5%)

Class 5 - Light Industry (5.4%)

5.4%

Class 6 - Business Other (28.0%)

63.0%

0.5%

3.0%

Class 8 - Recreational Property, Non-profit Organization (0.1%)

Source: City of Surrey Finance Department

City of Surrey | 2024—2028 Financial Plan | Financial Overview

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