Overall, Town of Coaldale Chief Financial Officer Michelle Overbeeke said, the town’s mill rate actually dropped from the previous year.
“Which is a good thing,” she added.
“It’s set according to the budget that has already been approved. This year we have just over a two per cent increase in residential and two percent in commercial but fortunately our education went down,” noted Overbeeke, during a presentation to council.
Overbeeke sent out packages to town councillors with approximately 35 properties listed throughout the town with the average rate increase with assessment increases is $33.34 — the average across the town of Coaldale, which Overbeeke said is less than one per cent.
“Some will be higher, some will be lower, depending on what happened with assessments in specific areas,” she added.
According to Overbeeke, part of the increase in assessment is the land value has gone up across Coaldale.
For commercial, Overbeeke explained, there’s a 9.9 per cent increase — which is an average and some went down.
The average is dependent on the value of the land and/or if improvements have been done to buildings.
“We’re still quite a bit under Lethbridge’s mill rate and the non-residential mill rate dropped, as well,” said Overbeeke.