Multiplex Cost Calculator

Multiplex Cost Calculator for RM of Portage Residents

Please insert your own numbers to compare your own farm, business or residence. In this example the 2054 acres of farmland has an assessment of 2,794,700 with a 26% portioned assessment of 726,600

To repay the 6.5 Million dollar loan that will actually cost 10.7 million dollars with interest over 15 years, the RM has indicated that the amount of the mill rate to be attributed to this is 2.296 per year.

726,600 X .002296 =1,668$ per year X 15 years =25,024$


________X .002296 =_________ per year X 15 years =__________$

To arrive at an actual number for the 1.5 million that will come from the general reserve is a little more difficult as some of the money has already been collected in past years and is sitting in the RM reserves. This is money that taxpayers have already paid or are paying on their 2008 taxes The RM has indicated that if the money was taxed at a one time lump sum amount , it would equal a mill rate of 4.830

726,600 X.00483 = 3510$ One time


______ X.00483 = ______$ One Time

The RM has indicated that the Operating Deficit for the new complex will be 1.2 Million per year. While they say that they are currently in negotiations to decide on the funding arrangements for this, let’s just assume that the City / RM split this on the 2/3 – 1/3 agreement. Rural taxpayers will be on the hook for 400,000 per year, which using 2008 numbers would equal a mill rate of 1.289

726,600 X .001289 = 936$ per year X 15 years =14,048$


______ X .001289 =______ $ per year X 15 years =______ $


Over the next 15 years this amount of farmland and buildings will contribute over 42,500$ to the multiplex.

Your Total _________________$

This farm has 2 residences with an assessment of 226,200 and a 45% portioned assessment of 101,810.
101,810 X .002296 = 233$ per year X 15 years = 3506$
_______X .002296 = _______$ per year X 15 years = _______$


101,810 X .00483 = 491$ One time
_______ X .00483 = _______$ One time


101,810 X .001289 = 131$ per year X 15 years = 1968$
_______ X .001289 = _______$ per year X 15 years = _______$


Total of 5966$ for these two residences over 15 years

Your Residence Total ____________$

This is a grand total of over 48,500$ in the first 15 years.

Your Total _________________$

This is the numbers for just one average size family farm in the RM.

Other notes to consider:

  • Impending re-assessment in 2010 that is expected shift more taxation to farmland.
  • Operating Deficit will likely continue to climb as more components are added.
  • Operating Deficit will likely continue to climb as agreement with fair board is tied to Consumer Price Index.
  • The RM will have set a precedent and will be pressured to contribute to Splash Island, Centennial Arena until it is demolished or becomes some other type of recreation facility and any new projects dreamed up by the City of Portage.
  • The RM is committed to ongoing funding as long as the facility is in place, potentially for 99 years .


Taxpayers are greatly disapointed in the recent comments from the Reeve saying that the RM will not require increases in property tax rates to make payments on the debt. By dramatically increasing the amount allocated to the general reserve fund several years ago they have cushioned the blow today.

There is 800,000 allocated to the general reserve fund from 2008 taxes. From 2009 onwards they will likely use that allocation amount to cover the new 700,000 multiplex repayment from 2009 taxes

But the fact remains that taxes should be going down if they were not using that money fund the multiplex, as well as money saved from past debentures that are being paid off.

Every home owner, farmer, and commercial business owner in both the City and the RM should be sitting down with a pencil and fully understanding the implications of what the multiplex will be costing them.