Sundre businesses and residents will see the mill rate charged by the municipality increased by 2.9 per cent. However, owners of vacant commercial properties will see the mill rate drop down to 11.752.
Sundre businesses and residents will see the mill rate charged by the municipality increased by 2.9 per cent.
However, owners of vacant commercial properties will see the mill rate drop down to 11.752.
Council approved the 2017 tax bylaw during a special meeting on Thursday, May 11, following a defeated motion for a three per cent increase at the regular Monday, May 8 meeting. Click here for that story.
Voting in favour of the motion at the special meeting were councillors Cheri Funke, Chris Vardas, Nolan Blatchford and Paul Isaac. Opposing the motion were Mayor Terry Leslie as well as councillors Myron Thompson and Verna McFadden.
The 2017 residential mill rate has been set at 7.964, up from last year's 7.740. That will represent an increase of about $50 per year on a home assessed at about $224,000 — Sundre's average, administrative staff's report outlined for council.
The 2017 commercial mill rate has been set at 11.752, up from last year's 11.421. That will represent an increase of about $159 per year on a commercial property assessed at about $481,000, which is the local average.
Factoring in the Alberta School Foundation Fund (ASFF) charged by the municipality for the province — set at 2.524 mills — as well as the Mountain View Seniors' Housing (MVSH) rate set at 0.151 mills by the non-profit group to be collected by the town and forwarded to the organization, the residential mill rate for 2017 is 10.639. That means a home assessed at the average of $224,000 will receive a $2,383 tax bill this year.
Including the amounts collected for the ASFF as well as the MVSH, the commercial mill rate for 2017 is 15.695. That means a business assessed at the local average of $481,000 will receive a $7,549 tax bill this year.
The estimated municipal expenditures and transfers set out in the Town of Sundre's 2017 budget total $11,486,381 and the estimated municipal revenues and transfers from all sources other than taxation are estimated at $8,313,857, leaving the balance of $3,172,524 to be raised by general municipal taxation.
