Despite an increase to Rocky View County’s (RVC) 2016 Operating Budget, residents will see a 1.3 per cent decrease to 2016 residential property tax rates when notices are mailed out in early May.
“The reason we have an increased revenue is because there has been growth and there has been an increase in the value of properties in our county,” Councillor Eric Lowther said. “That ends up with us having a few more dollars.”
According to RVC Reeve Greg Boehlke, RVC continues to have one of the lowest residential property tax rates in Alberta, and “very affordable” business property taxes – thanks in part to the County’s efforts to diversify the tax base.
A press release issued by the County indicated the amount of taxes a resident will pay depends on both the tax rate and property values – the decrease will be less or taxes “could go up” if the property increased in value between mid-2014 to mid-2015.
With the approved tax rate, RVC will collect just more than $4.84 per thousand dollars in property value, according to the press release – down from $4.92 in 2015. Of this, $2.40 goes to the Government of Alberta, and RVC receives $2.44.
The County’s one per cent budget increase will primarily cover the cost of inflation for the goods and services the County purchases and will be funded from the tax stabilization fund.
According to Lowther, a “marginal increase” to residential taxes would have been beneficial for the County.
“There’s been overall appreciation and growth, and if we are looking to service that growth, a (tax increase) makes some sense,” he said.
However, Councillor Margaret Bahcheli said since properties are assessed for the previous year, council needs to account for that delay by lowering taxes for residents. Councillor Rolly Ashdown said there was “no reason” for a tax increase each year.
The decrease also helps offset the Province’s education tax requisition increase of 4.6 per cent, according to RVC’s press release. The County is required to collect education taxes, but the requisition amount is set by the Province and school boards determine how the money is spent. Thanks to assessment growth within RVC, residents won’t see an impact from this increase in 2016.
Adjustments to the 2016 Base and Operating Budget approved in December 2015 were also approved by RVC council, to accommodate the approved tax rate for 2016. Details on the budget and the tax rate bylaw can be found at rockyview.ca, under the “Bylaws” and the “Budget & Finance” sections.
