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Tax rate set

Town council passed second and third reading of the 2012 property tax rate bylaw last week. The mill rate is set at 6.35 for residential, 7.87 for non-residential and 7.87 for machinery and equipment.

Town council passed second and third reading of the 2012 property tax rate bylaw last week.

The mill rate is set at 6.35 for residential, 7.87 for non-residential and 7.87 for machinery and equipment.

The total assessed value of land in Innisfail is $960 million with $9.2 million expected to be raised from municipal taxes.

The estimated municipal expenditure and transfers total $16,719,123 with the expected municipal revenues and transfers from sources other than taxation at $7,539,900.

The only changes made since first reading was approved during the March 26 council meeting was a budget adjustment to the Parkland Foundation and Seniors Housing.

The Parkland Foundation requisition will be $17,880 instead of the expected $34,212 due to the foundation coming in under budget in 2011. The town's share of the feasibility study was lower than expected and will bring the seniors requisition down to $17,880.