TAMRMS#: B06
11.1
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Bylaw 13/2024 - 2024 Tax Rate Bylaw (1st, 2nd & 3rd readings)
Presented by: Stephen Bannerman, Senior Manager, Assessment and Taxation
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RECOMMENDED MOTION(S)
recommendation
1. That Bylaw 13/2024, being a bylaw to authorize the rates of property taxation for 2024, be read a first time.
2. That Bylaw 13/2024 be read a second time.
3. That unanimous consent be given for consideration of third reading of Bylaw 13/2024.
4. That Bylaw 13/2024 be read a third and final time.
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PURPOSE OF REPORT
The purpose of this report is to:
1. Summarize the changes in the 2023 taxable assessment base.
2. Set the municipal property tax rates resulting from the 2024 approved budget.
a. General Municipal Levy Tax Rates
b. Servus Place Capital Debenture Tax Rates
c. Annexation Lands Tax Rates
3. Set the education property tax rates required for the 2024 Provincial Education Requisition.
4. Set the Homeland Housing Foundation tax rates required for the 2024 requisition.
5. Set the “Designated Industrial Property” tax rate required for the 2024 requisition.
6. Summarize the impact that 2024 tax levies and requisitions will have on residential and non-residential properties.
7. Provide tax payment information including deadlines and penalty amounts.
BACKGROUND AND DISCUSSION
Please refer to the attachment entitled “2023 Assessment and 2024 Taxes”.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
Approved tax rates and tax impacts will be communicated to property owners via press release, upon passing of the tax rate bylaw.
Property owners will be sent their combined 2024 Assessment & Taxation Notice on May 29, 2024 via Canada Post.
Deadline for property assessment appeals is August 6, 2024.
IMPACTS OF RECOMMENDATION(S)
Financial
Passing of this bylaw will provide funding as per the 2024 approved Municipal Operating Budget.
Compliance & Legal
The Municipal Government Act, pursuant to Part 10, Division 2, requires an annual bylaw to establish property tax rates, against assessed property, to raise sufficient tax revenue to fund municipal services and to provide for various requisitions from outside organizations such as the Alberta School Foundation Fund (ASFF) and Homeland Housing.
Program or Service
Passing of this bylaw will provide funding for the programs and service levels as approved in the 2024 Municipal Operating Budget.
Organizational
None at this time.
Risks
The passage of this bylaw is a mandatory requirement.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
Budget and Taxation Guiding Principles C-FS-05 provides additional Council direction. It is attached to this agenda report.
IMPACTS OF ALTERNATIVES CONSIDERED
If Council does not wish to support the recommendation, the following alternatives could be considered:
1. A differing general municipal tax split could be implemented by Council. This would alter the tax impacts affecting the municipal portion of property taxes between the residential and non-residential property classes. Such a change may slightly affect the timing of passing of the tax rate bylaw and subsequently the timing of mailout of the Assessment & Tax notices.
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Report Date: May 7th, 2024
Author: Stephen Bannerman
Department: Financial and Strategic Services
Department Director: Anne Victoor
Managing Director: Diane McMordie
Chief Administrative Officer: William Fletcher