Red Deer County Council approved the 2024 tax rate bylaw during the May 7 meeting.
Tax rates vary on individual properties and taxation is based on market value assessment.
Here are the changes to mill rates and levies:
Under the bylaw, the county will collect $52.2 million in taxation to achieve budgeted work plans for 2024.
Administration presented 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.
“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,” said Dave Dittrick, Director of Corporate Services. “Growth through new construction has helped offset what would have otherwise been a need for a higher taxation rate increase.”
Mayor Jim Wood added, “The importance of ensuring long-term fiscal sustainability, and that a modest increase will help maintain current service levels that residents and businesses desire. That taxes at Red Deer County continue to be low and extremely competitive compared to other municipalities.”
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Thu, May 23, 12:00 PM
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