By rdnewsNOW staff

Taxes Due June 30, 2024

Red Deer County passes first reading on 2024 tax rates

Apr 30, 2024 | 2:59 PM

At the April 23 council meeting, Red Deer County Council passed first reading of the 2024 Tax Rate Bylaw. County officials note, however, that tax rates vary on individual properties and are based on their market value assessment.

The new tax rate for Community Services will increase to 1.0368 from 0.9423, and Protective Services will decrease to 0.6140 from 0.7751. Officials say the overall decrease in these rates automatically increases the municipal rate accordingly.

Officials say this Bylaw allows the County to collect $52.3M in taxation to achieve the municipality’s budgeted work plans for 2024. Administration is presenting a 1.0226 mill rate increase to farmland property, and a 0.0407 mill rate increase to residential properties with no increase to non-residential properties in 2024.

Farmland is assessed based on prescribed rates from the Ministry of Municipal Affairs.

Dave Dittrick, Director of Corporate Services explained that, “given the continued inflationary pressures facing the delivery of services, we are pleased that we have been able to maintain our non-residential tax rates at 2023 levels.” He continued, “Growth through new construction has helped offset what would have otherwise been a need for a higher taxation rate increase.”

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Mayor Wood also noted, “the importance of ensuring long-term fiscal sustainability, and that a modest increase will help maintain current service levels that residents and businesses desire,” he added “that taxes at Red Deer County continue to be low and extremely competitive compared to other municipalities.”

County officials note, the province requires municipalities to levy Education Property Taxes on their behalf based on assessment values. The County says the overall requisition for education has increased by $1.18M. Rates, will decrease for Residential and Farmland –2.4149 (2023 – 2.4248); and increase for Non Residential – 3.6939 (2023 – 3.6333).Officials say the seniors housing levy reflects the requisition charged from the Parkland Seniors Housing Foundation. Based on this requisition, Administration is recommending setting the Seniors Housing Levy rate at 0.0277 (2023 – 0.0182). The provincial police levy will decrease for all property categories to 0.2392 (2023 – 0.2492).

County officials say provincial requirements for a Designated Industrial Property (DIP) levy reflect the cost to administer the province’s program to centralize all industrial assessment. The legislated DIP requisition for 2024 is 0.0765 (2023 – 0.0746).

The County reminds property owners that taxes are due on June 30, and a 6 per cent penalty will be applied to any unpaid balance on July 1, November 1, 2024 and March 1, 2025. If you are currently enrolled in the Monthly Tax Installment Plan, no additional payment is required at this time.

Public can provide their feedback on the proposed 2024 tax rates at info@rdcounty.ca or call 403.350.2150.

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