City of Surrey's 2021 - 2025 Financial Plan

MAJOR REVENUE SOURCES

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

2020

Surrey

% Change

Langley Township

New Westminster

2020

2019

Burnaby

Richmond Coquitlam Delta

Average Assessment 1,441,032 $

$

968,824

1,106,718 $

1,462,748 $

1,162,939 $

$

959,845

1,109,084 $

1,154,131 $

-3.9%

Levies

1,632

1,236

1,430

1,715

1,421

1,185

1,359

1,320

3.0% 8.0%

School

424

285

326

431

342

387

327

303

BCA, MFA and Other

71

49

60

73

60

49

55

48

15.5%

MVRD

2,127 2,455 4,582

1,570 2,170 3,740

1,816 3,032 4,848

2,219 2,634 4,853

1,823 2,649 4,472

1,621 2,488 4,109

1,741 2,093 3,834

1,670 2,040 3,710

4.3% 2.6% 3.3% 1.1% 0.6% 1.0%

General

Total Taxes User Rates

718 563

1,376

3,289

1,387

901 478

1,130

1,136

1,124

Total Res. User Fees

-

-

-

-

327

325

Parcel Taxes

Total User Rates Total Taxes and User Rates

1,281

1,376

3,289

1,387

1,379

1,130

1,463

1,449

$

5,863

$

5,116

$

8,137

$

6,240

$

5,851

$

5,239

$

5,297

$

5,159

2.7%

Source: City of Surrey Finance Department

2020 PROPERTY TAXES BY CLASS ASSESSMENT CODES Based on total taxes levied, including for other authorities, for the year 2020 ($685,060,781.92)

0.1%

21.7%

Class 1 - Residential (71.0%)

Class 2 - Utilities (3.0%)

Class 4 - Major Industry (0.7%)

3.5%

0.7%

Class 5 - Light Industry (3.5%)

3.0%

Class 6 - Business Other (21.7%)

71.0%

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

Source: City of Surrey Finance Department

City of Surrey | 2021—2025 Financial Plan | Financial Overview

78