"Council had already worked hard with Administration to bring in an operating budget with the lowest tax increase possible which would still allow us to meet our objectives for 2020," said Mayor Colberg, "and that was long before the COVID-19 pandemic. Leaving the Mill Rate at those levels is the right thing to do, now more than ever, due to the province-wide economic uncertainty."
Councillor Garbutt added "We're confident that our CAO and his team will find efficiencies to make up for the shortfall in revenue caused by the drop in overall assessment."
The 2020 Operating Budget detailed a 1.9% increase to the municipal property tax requisition.On average, the municipal portion of the tax bill will reflect a 1.9% increase.
The 2020 Alberta School Foundation Fund (ASFF) requisition was estimated to decrease based on year over year equalized assessment values, and therefore, most residential ratepayers will see a decrease in the ASFF levy amount on their tax notice.
The 2020 Drumheller and District Seniors Foundation requisition decreased slightly (1.14%) over 2019.
"The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of the assessed value of property, which is used to calculate the amount of property tax." explained Darryl Drohomerski CAO of the Town of Drumheller.
The examples below show the effect on an average tax bill, reflecting adjustments to the municipal, school and seniors foundation combined.
A $200,000 residential property will see a tax bill increase from $2,267 in 2019 to $2,313 in 2020, an increase of $46.
A $300,000 residential property will see a tax bill increase from $3,401 in 2019 to $3,470 in 2020, an increase of $69.
A $500,000 commercial property will see a tax bill from $8,770 in 2019 to $8,906 in 2020, an increase of $136.
For more information, contact:
CAO, Town of Drumheller