Red Deer city council approves property and Business Improvement Area tax rates
Red Deer city council approved their annual property and Business Improvement Area (BIA) tax rate bylaws at their meeting on Monday.
Council is required to pass a tax rate bylaw when a property tax requirement has been approved in the operating budget. The bylaw determines how much property tax will be paid by each class of property and sets tax rates for requisitions The City collects on behalf of Alberta Education and Bridges Community Living.
The City’s budget was set by City Council in January with a 6.15 per cent municipal tax increase. When combined with the 2024 requisitions the average total tax increase is 5.29 per cent for each residential, non-residential and multi-family properties.
READ: ‘Challenging budget’: Red Deer property tax rate increases amended to 6.15 per cent