Beiseker council officially approved the 2014 operating budget, May 26, resulting in a three per cent residential mill rate increase over 2013.
The 2014 mill rate was voted unanimously at 9.38 per cent for residential and farmland property.
This will be a two per cent increase in the non-residential mill rate over last year.
Beiseker CAO Jo-Anne Lambert said the increase in taxes is indicative of inflation.
“We try and do a small increase every year,” Lambert said. “Just to cover the cost of inflation.”
Lambert said Village services will remain consistent with last year’s expectations.
The estimated municipal expenditures and transfers set out in the budget will total $1,883,163. Of that money, $775,103 will come from sources other than taxation – such as grants and utility bills. The remaining $1,108,060 will be raised through municipal taxation.
The total assessment for Beiseker is set at $86.4 million, similar to 2013. Residential accounts for the most at $61.5 million, non-residential at $24.8 million, farmland at $93,370 and machinery and equipment at $54,730.
A total of $1,091,318 is the assessed value of all property in Beiseker. The 9.38 per cent for residential and farmland property comes from here, while 9.69 per cent will come from non-residential property.
The residential mill rate will be an increase of 0.46 per cent since 2013.
The Alberta School Foundation Fund (ASFF) – a fund where money collected through the education property tax is pooled together and distributed to fund Alberta’s priorities in education – is set at 2.6 per cent for residential/farmland and 3.69 per cent for non-residential.
Outstanding loans for the Village of Beiseker have also been decreasing. At the end of 2013, the Village owed more than $793,000. As of April 30, 2014, the outstanding balance is now at $648,500.
Lambert said the Village received about $240,000 from the Municipal Sustainability Initiative (MSI) from the Alberta government.
The capital budget – which focuses on developing infrastructure primarily through provincial government grants – is still being finalized. Lambert said research is being done on how to spend the money.
“We want to make the best use of the grant money we get,” Lambert said. “We’re doing some investigating into what is the best way to spend the money.”
Lambert talked about how the money could be used for one project this year, or spread over a few years or projects.
