1. Forest City Dam
North Lake Local Service District Potential for Tax Base Loss Financial Impact April 1, 2017

2. 2017 North Lake Budget Policing $176,088 Fire Suppression $130,777
Solid Waste
$55, 829
Recreation & Community Services
$17,150
Cost of Assessment
$11,409
Rural Planning
$12,917
Administration
$8,911
Dog Control
$1,941
Total
$415,022
Less Revenue , Grants and Surplus
($48,939)
Total to be Raised by Taxes
$366,083

3. LSD vs. Provincial Tax 2017 North Lake Tax Base $58,808,450
2017 Budget to be Raised by Taxes $366,083 =
2017 Provincial Residential =
+ Assessment Rate
2017 Provincial Non Owner Occupied =
2017 Provincial Woodlands =

4. Affected Properties Property Values on Shores of
North Lake, Thoroughfare and East Grand Lake
Residential $10,
Non Owner Occupied $23,390,200
Woodlands $ 1,724,000
Total $35,393, %

5. Potential Property Value Decline
Comparing Waterfront to first Tier Properties shows a consistent 40% - 60% reduction in Assessed/Market Value
Presented a 40% value loss on property to a Real Estate professional and to a SNB Property Assessment Manager. Both responded 40% was too conservative an estimate. Loss would likely be 50% or worse.

6. Potential Tax Revenue Loss
Based on a 50% Reduction in the Market Value of the Affected Waterfront Properties
LSD Loss = $110,162
Provincial Loss
Residential $ = $ 22,147
Non O/O = $133,640
Woodlands $ = $ 10,828
$166,615

7. SUMMARY Potential Loss of 30% of Tax Base
LSD capability to provide Fire & Recreational Services GUTTED
Province loses > $150,000 Revenue annually