Council approves 2019 Property Tax Rates Bylaw

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2019 Property Tax Rates Bylaw passed by High River Council 

HIGH RIVER, AB: At the May 27 regular meeting of High River Council, Bylaw 4558/2019 was approved in order to set the 2019 property tax rates for the town.

In accordance with Section 353 and 354 of the Municipal Government Act of Alberta (MGA), Council is required to pass a Property Tax Bylaw annually and show all tax rates to be imposed on property owners to generate funds for the purpose of executing the approved operating and capital budgets.

“The municipal property tax revenue of $14.4 million was approved by Council based on a revenue neutral approach and a residential vs. non-residential tax ratio of 1:1.3,” says Kola Oladimeji, chief financial officer for the Town. “This is in order to meet the operational needs of the Town in line with the approved 2019 operating budget.”

Council also approved an estimated $5.7 million for school and senior requisitions based on 2019 approved budget. Pending final notification from the Province of Alberta.

Property taxes are levied to raise revenue to fund municipal expenditures and pay external requisitions from Alberta Education, and seniors’ housing.

The overall tax increase of 4.6 percent includes a 1 percent increase for Community Infrastructure Re-Investment Fund (CIRF), 1 percent increase for the aquatic pool reserve, 2 percent increase to the utilities reserve and a 0.6 percent inflationary increase.

“The infrastructure levy is critical for ensuring that we can maintain and replace our existing municipal infrastructure for the future,” adds Oladimeji.

Property tax notices were mailed on May 29, 2019 and will be due by June 28, 2019 unless property owners are on the Tax Installment Payment Plan (TIPP).  Enrolling in TIPP allows property owners to pay property taxes in equal monthly installments throughout the year instead of a single annual lump sum payment. For more information or to sign up click here, or call 403-652-2110.

 

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