Property tax rate increase for Lacombe County this year
Residents of Lacombe County will be shelling out a little bit more to the taxman this year.
County Council has approved its operating and capital budgets for 2018 and they include a 2.5 per cent tax rate increase for residential properties and 4.5 per cent increase for farmland and non-residential properties over 2017 rates.
Based on the new rates, property taxes on a $400,000 residence in Lacombe County would be $2,006.60, an increase of $1.68 from 2017.
Officials say the $67.8 million operating budget includes over $11.3 million for the Alberta School Foundation Fund requisition and over $400,000 for the Lacombe Foundation requisition. An operating budget increase of over $2 million is also said to reflect increased costs related to inflation, increases in the carbon tax, as well as funding for new initiatives such as the RCMP enhanced position to help combat crime in the County.