Coalhurst approves Mill Rate Bylaw

Posted on June 6, 2024 by Sunny South News

By Nikki Jamieson
Sunny South News

An increase in assessment means that Coalhurst’s residential mill rates have gone down for 2024.

During their regular May 21 meeting, Coalhurst town council reviewed their proposed 2024 mill rate bylaw.

CAO Shawn Patience noted that Lethbridge County had only just approved their mill rate bylaw the previous Thursday, so Coalhurst Town Administration had to wait until then to calculate their own mill rate bylaw to account for annexed properties, which are still under mill rates set by the County.

The impacts on the Town’s mill rates for 2024 are: 

• A 3.04 per cent decrease for residential mill rates with the proposed 2024 mill rate being the Town’s lowest residential mill rate since 2017. 

• No change on the non-residential mill rate for 2024.

• 3.86 per cent increase for residential properties and 0.58 per cent increase for non-residential property portion of the Education Requisition

• A 2.05 per cent increase for residential and non-residential properties for the Green Acres Requisition

• Annexed Properties’ mill rates are increased in accordance based on the Lethbridge County mill rates as per the annexation agreement from 2015, which will expire in 2035

Although the Town’s budget requires an additional $115,174 of taxation, which would result in an approximate 4.86 per cent taxation increase, the increase in overall assessment of approximately 8 per cent means the mill rate can be reduced by 3.04 per cent for 2024.

According to the bylaw, the mill rates for 2024 are set as:

General Municipal

• Residential/Farmland: 7.2673

• Annexed County Class 1 Residential: 4.7585

• Annexed County Class 3 Farmland: 29.0000

• Non-Residential: 9.6840

• Annexed Non-Residential: 8.8283

• Machinery & Equipment: 9.6840

ASFF

• Residential/Farmland: 2.4676

• Non-Residential: 3.6772

Green Acres Foundation

• Residential/Farmland 46,688 323,101,370 0.1445

• Non-Residential 2,180 15,088,350 0.1445

• Designated Industrial Property (DIP)

• Ministerial Order MAG:006/24: 0.0765

Council passed all three readings of the 2024 Mill Rate Bylaw, or Bylaw 452-24.