DIDSBURY – Council has approved the 2024 tax rate bylaw, which calls for residential and non-residential rates to decrease slightly over 2023 rates.
The move came by way of motion during the recent, regularly-scheduled council meeting.
The 2024 residential and farm land rate is 7.156, compared with 7.437 last year.
The non-residential rate is 8.811 in 2024, down from 8.730 in 2023.
Under the bylaw, a house with an assessment of $768,890 would, for example, have a tax bill of $5,503, an increase of 1.9 per cent from 2023.
A non-residential property with an assessment of $2.62 million would, for example, have a tax bill of $23,104, an increase of 1.5 per cent from 2023.
The 2024 tax split is 85.15 per cent residential and 14.85 non-residential. The financial planning committee recommended the 85.15/14.85 split for 2024, compared with 85.6/14.4 in 2023.
For the residential assessment class, the taxable assessment is $610,757,140 in 2024, and the non-residential taxable assessment is $86,179,200.
The education tax levy for residential is $1,521,059 and for non-residential $306,533.
The Mountain View Seniors’ Housing residential tax levy is $233,600 and non-residential is $32,545.
“I never presume that any tax rate will meet everyone’s expectations, and property owners will make their own decisions about that,” mayor Rhonda Hunter told the Albertan.
“However, overall, most residences and businesses will see minimal impact on the taxes they pay to the town due to the lowering of the mill rate as well as just a small increase in the town’s operating budget for 2024.”
Council carried a motion giving final approval to the bylaw, which received second reading last month.
“It is important to be mindful that the provincial education property tax requisition and the Mountain View Seniors' Housing requisition are also added to tax bills when they go out, that are not part of the town’s revenue from tax or tax rate, which adds to the total amount of the invoice and which municipalities are responsible to collect and forward to those respective entities,” she said.
