By Josh Hall (Twitter: @Vancan19)

plus extra 1.0%

Lacombe city council approves 2.7% tax hike, and new pavement levy

May 10, 2022 | 1:39 PM

Lacombe city council has finalized the City’s annual tax rate hike at 2.7 per cent.

An additional tax of 1.0 per cent will go directly to fund pavement rehabilitation within the city.

The City notes in a release that 2.7 per cent is considerably below Alberta’s rate of inflation, which was 6.5 per cent from March 2021 to March 2022.

The general municipal residential mill rate in 2022 is 8.3965 per $1,000 of assessment, and the general municipal non-residential mill rate in 2022 is 9.6486 per $1,000 of assessment.

“The passing of these bylaws ensures the City of Lacombe operates in a fiscally-responsible manner,” Mayor Grant Creasey said. “The 2.7 per cent tax increase falls under council’s goal to keep increases below inflation, and the addition of the 1.0 percent Special Paving Tax is a clear, transparent and ongoing process to ensure our roads meet the standards our citizens expect.”

WIN-WIN, CLOSES DEC. 1

Red Deer Food Bank holds online auction for winter support

1h ago

CHRISTMAS SEASON

Holiday-themed events coming to the Town of Blackfalds

2h ago

$30K TO MATCH WALK A MILE FUNDS

The Outreach Centre receives matching donation from Scotia Wealth Management

5h ago

In 2022, the Special Paving Tax will go directly to fund pavement rehabilitation on 50 Avenue (45A Street to Wolf Creek Drive). This added hike comes after council learned last May about a projected roadway maintenance deficit of $4.3 million over the next 10 years (in 2021 dollars).

In total, the tax increase will levy about $21.2 million in property taxes, with $150,000 coming from the Special Paving Tax.

The 2.7 per cent increase also establishes levies on behalf of the Lacombe Foundation, the Alberta School Foundation Fund (ASFF) and the St. Thomas Aquinas RCS Regional Division No.38.

The two bylaws will generate a combined $21.25 million in tax revenue, split approximately 75 percent/25 percent between the municipality and the province.