April 2016 News Archive

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City Council considers 2016 tax rates

April 25, 2016 11:37 AM
(Red Deer, Alberta)

Red Deer City Council will give first reading to the Property Tax Bylaw for 2016 at today’s Council meeting.

If approved, the combined tax increase needed to fund the municipal tax requirement and the requisitioned amounts from Alberta Education and Piper Creek Foundation would result in a total tax increase of 3.13 per cent for each residential, multi-family and non-residential property types.

“The City is required under legislation to collect education taxes at the tax rates prescribed by the Province to fund education and that will impact tax increases this year,” said Joanne Parkin, Revenue and Assessment Services Manager.

For the 2016 tax year, The City of Red Deer will collect more than $43.7 million in property taxes on behalf of the Government of Alberta to fund education.

In accordance with the Property Tax Bylaw, The City will collect $125.1 million in approved municipal taxes to fund programs and services.

“Administration’s proposed municipal tax increase is 2.22 per cent for residential, 1.52 per cent for multi-family, and 3.48 percent for non-residential property, but when you add the education requirement, it results in the same total tax increase for each property type,” said Parkin.

A residential home assessed at $325,000 for 2016 that has experienced the average change in assessed value would pay $7.05 per month more in total property tax. This would bring the total annual tax bill from $2,704 to $2,789, an increase of $85 annually.

“Our municipal taxes are used for services ranging from maintaining our roads and parks, to providing police and emergency services,” said Parkin. “It’s about collecting enough to provide necessary services for Red Deer residents.”

The Tax Rate Bylaw will come back for consideration of second and third readings at the Council meeting on May 9.

For more information, please contact:

Joanne Parkin
Revenue & Assessment Services
The City of Red Deer
403-342-8126

Communications & Strategic Planning
The City of Red Deer
403-342-8147

 

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