Council gave second and third readings to the Taxation of College Dormitories Bylaw on Dec. 14.
Votes were unanimous, with Coun. Rudy Durieux absent.
According to briefing notes, the town determined it would be in the best interest of residents to tax student residences since Olds College entered an agreement with College Housing Olds Co. to operate them on a for-profit basis.
The bylaw does not come into effect until one year after it has been passed.
Student dorms are tax-exempt under the Municipal Government Act unless a council passes a bylaw otherwise.
