1. The percentage change applies to property owners overall, and includes a reduction based on tax revenue from new construction and land development (non-market growth). Non-market
growth reduces tax increases for existing taxpayers. The estimated non-market growth rate for 2010/11 is 1%, which is the same as the three prior fiscal years. The yearly property tax
impact on individual property owners may vary compared to the overall tax increase depending on a number of factors such as relative changes in assessment values throughout the Trust.
2. Bowen Island became an island municipality within Islands Trust in December 1999. In the 2000/01 fiscal year, property taxes for Islands Trust began to be calculated on a different formula
as defined in the Islands Trust Act. In general, island municipalities within the Trust pay a portion of Trust Council and Trust Fund Board costs based on the municipalities' assessed value
in proportion to the toal assessed value of the whole Trust Area. The relatively large year-to-year increases reflect the increased proportion of the Islands Trust budget devoted to
Trust Council and Trust Fund Board.
3. Available at http://www.bcstats.gov.bc.ca/pubs/ using Victoria annual CPI at March. For the most recent year, the CPI to November of the prior year is used.
4. This section of the table shows the decreasing proportion of the provincial grant and the increasing support from Islands Trust property owners, however, it is not intended to infer any direct
relationship between tax increases and grant decreases. In 1991, the provincial grant was $494,145 (or about 32% of expenditures totalling $1.53 million).
5. In 2003/04, costs were reduced when Bowen took over their own planning function entirely. For the prior three years, Islands Trust had provided planning services to the municipality on a
contract basis (2000/01 - $338,000; 2001/02 - $351,000; 2002/03 - $244,000)
6. In 2009/10 the province changed the name of the regional district grant to the Strategic Community Infrastructure (SCI) grant, plus the total amounts for 2009/10 and 2010/11 were primarily
released in 2009/10. The grant in 2009/10 was $318,331 and the grant in 2010/11 was $50,545. In 2010/11, Islands Trust carried over $138,331 of the 2009/10 grant money as an
Appropriation from Surplus to even out the funding from the provincial grant over the two fiscal years.