Red Deer County council passed first reading of the 2014 tax rate bylaw on April 22. If given final reading, the tax rate would result in an overall increase in revenue from taxation of four per cent.
Under the bylaw a residential property would pay $373.49 per $100,000 in assessed value, up from $359.42 last year.
Non-residential would pay $1,092.79 per $100,000 in assessed value, up from $1,069.02 last year.
The 2014 budget includes a new levy for the Parkland Foundation.
“This year, we have added a senior housing levy intended for the Parkland Foundation pegged at 0.0209 which will address our contribution to the lodge,” said Jim Wood, Red Deer County mayor.
“It will be an ongoing levy which can be adjusted if necessary. In the past, we have absorbed the levy in the budget but this is more transparent. We don't have to build a new Autumn Glen right away, so we have time to do the job right. A dedicated levy is part of that effort.”
Second and third readings are scheduled for May 6 to allow for public input.
“The good news in the budget is that much of the increase to our tax income is from new residential and non-residential,” he said. “As time goes on, we will be able to better service county residents and our industrial area with sustained growth.”
Red Deer County's 2014 budget is $64,900,000. Tax revenues account for $42,000,000 of the budget while grants and fees makes up the balance.
County CAO Curtis Herzberg noted, “Red Deer County offers a very high service standard and continues to be in a good financial position.”
Financial statements are available for public viewing at www.rdcounty.ca
"The good news in the budget is that much of the increase to our tax income is from new residential and non-residential."Jim WoodRed Deer County mayor
