Drumheller Town Council passed its Tax Rate Bylaw, which paves the way for about a small mill rate increase compared to last year at its Monday, May 13 council meeting.
On Monday, March 18 council approved its tax-funded operating budget. Council was able to find 4.9 per cent savings, and was able to add approximately $300,000 in new spending. The budget called for $8,884,527 to be made up from residential/farmland and non-residential taxes. This was a 1.9 per cent increase.
The town was also challenged by seeing the residential/farmland assessed value fall by $2,896,690 and non-residential fall by $1,194,400, for a total drop of about $4.1 million.
The municipal mill rate, which goes towards the town’s operating budget was set at 0.008156980. The Alberta School Foundation Fund (ASFF) tax rate was set at 0.002603590 and the requisition from the Drumheller and District Seniors Foundation (DDSF) was set at 0.000576800. This equates to a residential tax rate of about 11.33 per cent, up from last year’s rate of 11.12 per cent, about a 0.21 increase.
“The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on “mills.” It is a figure that represents the amount per $1,000 of the assessed value of property, which is used to calculate the amount of property tax.” explained Darryl Drohomerski CAO of the Town of Drumheller.
A $200,000 residential property will see a tax bill increase from $2,225 in 2018 to $2,267 in 2019, a monthly increase of $3.50. A $300,000 residential property will see a tax bill increase from $3,337 in 2018 to $3,401 in 2019, a monthly increase of $5.33.
A $500,000 commercial property will see a tax bill from $8,658 in 2018 to $8,770 in 2019, a monthly increase of $9.33.
Whether a homeowner’s taxes will increase or decrease also depends on the assessed value of their property.
The non-residential municipal tax mill rate was set a 0.013269370, the education rate was set at 0.003694840 and the DDSF rate was set at 0.000576800, for a total tax rate of about 17.5 per cent.
The 2019 Alberta School Foundation Fund (ASFF) requisition was estimated to decrease based on year over year equalized assessment values, and therefore, most residential ratepayers will see a decrease in the ASFF levy amount on their tax notice.
The 2019 Drumheller and District Seniors Foundation requisition decreased slightly (0.66%) over 2018.
Residents with concerns about their taxes note taxes cannot be appealed. However, your assessment can be challenged. If you do not agree with an assessment, residents have 60 days from the notice of assessment date on your assessment or tax notice, to file a complaint with the clerk of the Assessment Review Board. Assessment Review Board Complaint Form can be downloaded at www.municipalaffairs.alberta.ca. or are available at Town Hall.
There is a $50 fee to appeal an assessment of residential or farmland or $650.00 for other types of assessment. This fee may be refunded to the appellant if the appeal is withdrawn prior to the appeal being heard by the Board. It will be refunded if the Board rules in favor of the appellant.
For more information call (403) 823-1314.