The Town of Bonnyville has put the stamp on the mill rate used for property taxes. On Tuesday evening at Town Hall council gave the OK to increase the residential mill rate to 10.266996 which is used to determine the amount of taxes on the property. The mill rate has been increased overall by about eight percent for homes and two percent for non-residential building.
The reason for the increase was the declining property assessments in the town announced last March. Council made the decision to raise the rate after promoting a zero municipal tax dollar increase with the 2019 town budgets.
Since the value and the rate are used to determine taxes, homeowners could see anything from a minor increase to a drop of 50 to 60 dollars. Tax bills will be in the mail at the end of May. Taxes are due on the 30th of June.