Tax rate stability anticipated in Ponoka

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After incorporating current property value assessments for residential and commercial properties, the proposed municipal portion of property taxes for 2021 equates to an increase of about $11 per $100,000 of assessment for residential properties, and $15 per $100,000 of assessment for commercial properties.

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Town officials say that is equivalent to a 1.2 per cent increase in municipal property tax revenue for 2021, although not all residents would see an increase on their property tax bill.

Depending on individual property value assessments, some residents are anticipated to see a slight decrease, a slight increase or almost no change at all. Overall, residential property assessment increased by $2.5 million while non-residential assessment decreased by $2.8 million for an overall decrease of $0.3 million in 2021 taxable assessment.

Council will consider the third and final reading of the Bylaw at its May 11 regular meeting at 7:00 p.m.

Capital and infrastructure projects planned for 2021 include:

• Redevelopment of 51 Avenue
• Paving and concrete replacement and repairs on numerous streets
• Roadway and drainage rehabilitation and improvements on 64 Street
• Maintenance Improvements to the Arena and Aquaplex
• Trail improvements and way-finding signage
• Park design improvements at Lions Centennial Park
• Completion of a comprehensive site master plan for a Community Wellness Centre on the existing Arena land
• Waterworks and electrical maintenance improvements

The 2021 Budget includes $376,500 in funding from the Municipal Operating Support Transfer (MOST), a provincial grant that reimbursed municipalities for lost revenue and increased costs related to COVID-19 until Mar. 31, 2021. The Budget also includes a $92,090 transfer from the General Benefit Reserve to offset continuing COVID-related costs.

Officials say the 2021 Budget aligns with the results of the Town’s annual public consultation process which once again included an annual Citizen Budget Survey.

The top priorities that the 42 individuals who completed the survey wanted council to consider in the budget were: new or improved recreation or sports facilities such as improvements to the Town’s skate park; improving and maintaining Town infrastructure; economic development and growth; and fiscal responsibility.