HIGH RIVER, AB: At the May 28 regular meeting of High River Council, Bylaw 4534/2018 was approved in order to set the 2018 property tax rates for the town.
In accordance with Section 353 and 354 of the Municipal Government Act of Alberta (MGA), Council is required to pass a Property Tax Bylaw annually and show all tax rates to be imposed on property owners to generate funds for the purpose of executing the approved operating and capital budgets.
“The municipal property tax revenue of $13.6 million was approved by Council based on a revenue neutral approach and a residential vs. non-residential tax ratio of 1:1.3,” says Kola Oladimeji, chief financial officer for the Town. “This is in order to meet the operational needs of the Town in line with the approved 2018 operating budget.”
Council also approved $5.7 million for school and senior requisitions based on equalized assessment values as advised by the Province of Alberta.
Property taxes are levied to raise revenue to fund municipal expenditures and pay external requisitions from Alberta Education, and seniors’ housing.
The overall tax increase of 3.6 per cent includes a 2 per cent increase for Community Infrastructure Re-Investment Fund (CIRF). The overall rate also includes a 1.3 per cent inflationary increase and 0.3 per cent for other municipal services including broadband fibre.
“The infrastructure levy is critical for ensuring that we can maintain and replace our existing municipal infrastructure for the future,” adds Oladimeji.
Property tax notices will be mailed out by the end of May and will be due by July 3, 2018 unless property owners are on the Tax Installment Payment Plan (TIPP). Enrolling in TIPPs allows property owners to pay property taxes in equal monthly installments throughout the year instead of a single annual lump sum payment. For more information or to sign up click here, or call 403-652-2110.
