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County tax rate adopted by council

Posted on May 17, 2016 by Sunny South News

By Stan Ashbee
Sunny South News

Lethbridge County council passed first, second and third reading of Bylaw 1467 — the 2016 Tax Mill Rate at a meeting held May 5. The Lethbridge County Levy will see a 0.80 per cent increase ($14,428,245). The Lethbridge Regional Waste Levy will see a 18.23 per cent increase ($473,525). The Green Acres Foundation Requisition will see a 3.87 per cent increase ($244,055) and the Alberta Education Requisition will see a 0.72 per cent decrease ($4,822,144).
Assessments for the 2016 tax year, according to a report submitted to council for consideration, includes $26,680,910 residential assessment increase from 2015 consisting of $21,977,150 new growth and $4,703,760 attributable to inflation.
Also, $16,774,460 increase in the non-residential/M&E assessed properties. This is attributable to $7,142,210 of net growth and $9,632,250 attributable to inflation. There was a $14,759,190 decrease in the linear assessment base and $7,344,820 decrease of machinery and equipment assessment included and offset in the overall increase, according to the report.
According to the report, an option was provided for consideration based on a 2:1 ratio between the residential and non-residential rates and no change to the farmland tax rate.
The 2016 budget is $14,428,245, which is an increase of $111,515 from last year. The farmland 2016 tax rate is the same as the 2015 tax rate.
This results in a $372 increase to the 2016 levy. The residential 2016 tax rate is the same as the 2015 tax rate. This results in an addition to the 2016 residential levy of $116,560 with $96,015 from new growth and $20,545 from inflation. The non-residential/M&E category has been reduced, resulting in a reduction of $5,024 to the 2016 levy.
Tax rate for municipal purposes include Class 3 (20.4495), Class 1 (4.6156), Class 2 & 4 (9.0654) and The tax rate for the Green Acres Foundation (0.1273).
The following rates are for school requisition purposes to be calculated to generate $4,505,068 for the 2016 Alberta School Foundation Fund (ASFF) and $317,075 for the 2016 Holy Spirit Roman Catholic School District: ASFF Residential and Farmland (2.4307), ASFF Non-Residential (3.4884), Holy Spirit Residential and Farmland (2.4307) and Holy Spirit Non-Residential (3.4884).

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