Levy will provide long-term protection for Town’s infrastructure
High River, AB: A two per cent infrastructure reinvestment levy was approved by High River Town Council on July 13, as part of the property tax bylaw for 2015.
“This levy is an important step in ensuring that we can maintain and protect our infrastructure for the future,” said Tom Maier, the Town’s chief financial officer. “Funds generated through this levy will be set aside specifically for projects related to the Town’s infrastructure such as our water and sewer system or roads.”
“With the approval of these levies, council is looking to securing the future for High River,” said Mayor Craig Snodgrass. “Long after this council’s term is finished, we’ll have protected our town’s long-term sustainability.”
The levy is part of the 2015 tax rates, which reflect an overall increase of 4.5 per cent for residential and 6.7 per cent for commercial. The variance in rates between commercial and residential is part of a gradual transition towards the standard practice in other local municipalities.
“We are one of only a few municipalities where the tax rate for commercial properties is the same as for residential,” said Maier. “As part of the Town’s long-term strategy for fiscal management and sustainability it’s important that our tax system is comparable to what our neighbours are doing.”
The tax rates mean that, for an average household with an assessed value of $298,000, they will pay $2,568 in property taxes 2015 compared $2,406 in 2013. This is an average increase of $81 per year or $6.75 per month.