CREMONA - Village council has approved the 2022 tax rate bylaw and the 2022 operating budget.
Councillors passed motions approving both at the May 17 council meeting.
Both the residential and non-residential tax rates are unchanged from last year.
“Everybody is paying more for everything these days, so we thought why not try to help the residents out a little,” said mayor Tim Hagen. “We are paying for police now and that cost has increased quite significantly, another $4,000 or $5,000, but Mountain View Seniors' Housing (requisition) went down a little bit and the waste commission went down a little bit and the school (requisition) is right close to the same.”
He said service levels in the village should remain unchanged in 2022.
The 2022 tax rate bylaw calls for a mill rate of 8.415, a residential vacant rate of 12.495, a residential special rate of 2.958, and a farmland rate of 8.435. All the rates are unchanged from 2021.
A tax bill can be calculated by dividing the assessment by 1,000 and then multiplying the total by the mill rate.
The 2022 tax rate bylaw also calls for a commercial rate of 13.260, a commercial vacant rate of 13,260, a linear rat of 13.260 and a designated industrial property requisition rate of 0.0766. Those rates are also unchanged from 2021.
Total assessment in 2022 is $47,799,690, up from $46,441,900 last year. The total tax level required is $428,774,74, up from $417,350.21 in 2021.
The Alberta School Foundation Fund rate for 2022 is 2.50 for residential and 3.50 for non-residential.
The Mountain View Seniors' Housing Foundation rate is 0.372 for residential and non-residential.
The AB Policing rate is 0.3672 for residential and non-residential, up from 0.275 for categories both in 2021.
The 2022 budget calls for total revenues of $1,040,492.22, down slightly from 2021’s total of $1,082,502. Revenues in 2022 include $194,497.96 for water, $46,800 for sanitary, $49,000 for garbage, and $32,847 for library.
Total expenses in 2022 are projected to be $872,162, down from $1,073,275 in 2021. Expenses in 2022 include $160,450 for general administration, down from $164,289 last year. The chief administrative officer expenses are projected to be $100,650, down from $105,750 in 2021.
Council is still deliberating on the 2022 capital budget, Hagen said.