By rdnewsNOW staff

residential mill rate to hold steady

Penhold town council approves final tax rate increases

Apr 25, 2024 | 8:16 PM

Property owners in Penhold will see an overall 4.0 per cent increase in property taxes this year.

The 4.0 per cent is comprised of a 2.02 per cent hike in the municipal tax, and a 1.98 per cent increase to provincial requisitions for policing, schools and seniors which the Town is legislated to collected on the province’s behalf.

Council approved these increases at its April 22 meeting.

“We are proud of administration and their efforts to continuously work towards providing the same high level of services, while ensuring infrastructure is maintained, with only a minimal municipal tax increase, despite ongoing cost increases,” says Mayor Mike Yargeau. “Further to that, we have kept the increase at less than half of the national average rate of inflation.”

A statement from the Town notes that its continued growth commercially and residentially, combined with higher property assessment values, have resulted in additional tax revenue.

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This is allowing the Town to maintain the same Residential Mill Rate as 2023, with the only increase locally coming on the municipal tax.

The Town also notes that despite having higher tax rates in past years, municipal taxes in Penhold are now lower than they were 10 years ago.

2024 Tax Notice & Assessments will be mailed out in early May, the Town says.

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