By Gary McKinnon

LACOMBE TAX RATE

City of Lacombe approves 2019 tax rate

May 16, 2019 | 7:09 AM

LACOMBE- Council approved the annual property tax bylaw this week.

“Council is pleased to be able to continue delivering essential services and programs that protect and enhance the quality of life for our residents at a reasonable cost,” said Mayor Grant Creasey.

While assessment values in 2018 resulted in a reduction of value for both residential and non-residential properties, higher than anticipated assessment growth allowed City administration to transfer the increased revenue into general capital and maintain the property tax rate increase at 2.8 percent.

“Like many communities, Lacombe was impacted by a slower economy in 2018,” said Chief Administrative Officer Matthew Goudy. “Council took steps to limit expenses, and maintain a conservative approach to taxation.”

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In 2019, the tax rate bylaw will generate a combined $20.06 million in tax revenue, composed of the following:

Municipal Revenue $14,741,652
Provincial School Foundation $5,040,368
St. Thomas Aquinas RCSRD $161,193
Lacombe Foundation Requisition $112,046
Designated Industrial Requisition $1,334

A typical house assessed at $380,000 will see a total tax increase of $138, or about $12 per month.

The typical non-residential property assessed at $773,000 will see an annual increase of $361.

Tax notices will be mailed by the end of May, with the deadline to pay without penalty being July 2.

(The City of Lacombe)