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Coaldale sets 2023 property taxes

Posted on June 7, 2023 by Sunny South News

By Nikki Jamieson
Sunny South News

The Town of Coaldale has finalized their property tax rates for 2023.

During their regular May 23 meeting, Coaldale town council reviewed an amended 2023 property tax bylaw.

Bylaw 871-C-04-23 – or the 2023 Property Tax Bylaw – allows the town to set a tax on property within the town’s boundaries. It had previously been given first reading during council’s April 24 meeting.

The bylaw has been amended since first reading was performed, as there has been a change concerning tax rates from annexed properties from Lethbridge County, which were not finalized at the time of first reading for the Coaldale bylaw. As Lethbridge County’s rates are now finalized, the tax rates for those properties within Coaldale’s boundaries changed to reflect that.

The rates set in the bylaw are, as follows:

• Residential

• Municipal: 7.6161, a change of 0.011 per cent from first reading

• Education: 2.3901, a change of 0.126 per cent

• Green Acres: 0.1429, a change of 0.07per cent

• Total: 10.1491, a change of 0.039 per cent

• Non-Residential

• Municipal: 9.8208, a change of 0.023 per cent

• Education: 3.5105, a change of 0.125 per cent

• Green Acres: 0.1429, a change of 0.07 per cent

• Total: 13.4742, a change of 0.05 per cent

• Annexed – Residential

• Municipal: 4.7484, a change of -1.773 per cent

• Education: 2.4829, a change of -4.753 per cent

• Green Acres: 0.1453, a change of -2.939 per cent

• Total: 7.3766, a change of -2.819 per cent

• Annexed – Non-Residential

• Municipal: 8.7576, a change of -2.734 per cent

• Education: 3.4763, a change of -5.497 per cent

• Green Acres: 0.1453, a change of -2.939 per cent

• Total: 12.3792, a change of -3.529 per cent

• Annexed -Farmland

• Municipal: 26.6270 a change of 5.533 per cent

• Education: 2.4829 -4.753 per cent

• Green Acres: 0.1453, a change of -2.939 per cent

• Total: 29.2552, a change of 4.530

“Tax rates for Lethbridge County did actually did go down for the past year,” said Kyle Beauchamp, chief financial officer and deputy CAO for the town. “Offsetting this on the municipal side, our rates have to go up…to balance the budget.

For municipal taxes, $9,488,131 is needed to balance the operating budget of $20,729,452. The bylaw contains a 1.53 per cent residential tax increase and a 2.67 per cent non-residential tax increase.

On the provincial side, the Alberta Government sets the funds required for the educational tax levy, and the required amount for 2023 is $3,078,316. The Green Acres Foundation sets the funds required for the Seniors Housing Tax Levy, and the required amount for 2023 is $172,507. The town does not have control over either of those amounts.

Council unanimously performed the second and third and final reading of the bylaw as amended. Coun. Jordan Sailor was absent from this portion of the meeting.

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