Item - 2026.EX33.10

The Executive Committee recommends that:

1. City Council authorize that the 2027 interim levy for all property classes be based on 50 percent of the total 2026 taxes billed for each property, adjusted, as necessary, to reflect any additional taxes added to the previous year's taxes as a result of assessment added to the tax roll.

2. City Council authorize that the interim levy apply to assessments added to the tax roll for 2026 that were not on the assessment roll when the By-law was passed.

3. City Council authorize that:

a. the interim bill payment due dates for property tax accounts paid on the eleven (11) instalment pre-authorized tax payment plan be: February 16, March 15, April 15, May 17 and June 15, 2027;

b. the interim bill payment due date for the two (2) instalment pre-authorized tax payment plan be March 1, 2027; and 

c. the interim bill payment due dates for all other property tax accounts on the regular instalment option or on the six (6) instalment pre-authorized tax payment plan be: March 1, April 1 and May 3, 2027.

4. City Council grant authority to introduce the necessary Bill in City Council on November 18 and 19, 2026, providing for the levy and collection of the 2027 interim taxes prior to the adoption of the estimates for 2027, which By-law, when enacted, will be effective as of January 1, 2027.

This report recommends the adoption of the 2027 interim levy and requests authority to introduce the necessary by-law at the inaugural meeting of Council on November 18 and 19, 2026. The 2027 interim levy will raise approximately $3.13 billion for City purposes and will provide for the cash requirements of the City until such time as the 2027 Operating Budget and 2027 final property tax levy are approved by Council.