City of Surrey 2017 - 2021 Financial Plan

Major Revenue Sources

2016 Assessment Roll andTaxation Comparison

2015 Assessment

2016 Assessment

Residential 86.2%

Residential 86.1%

Business 11.4%

Business 11.4%

Other 0.3%

Industrial 2.3%

Other 0.2%

Industrial 2.2%

2016 Taxation

2015 Taxation

Residential 65.0%

Residential 64.9%

Business 27.0%

Business 27.3%

Other 2.8%

Industrial 5.0%

Other 2.9%

Industrial 5.1%

Source: City of Surrey Property Tax Department

The charts above represent assessment values and property taxes. Assessed values are divided by 1,000 and then multiplied by the applicable tax rate to determine the annual tax levy. As shown, residential assessment values represent approximately 86% of total assessment value in the City but generate only 65% of the property tax revenue.

2017-2021 FINANCIAL PLAN

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