Listen Live

HomeNewsM.D. holds tax rates for 2021

M.D. holds tax rates for 2021

“A promise kept,” says Municipal District of Bonnyville Reeve Greg Sawchuk. “From the beginning of our 2021 Budget discussions, Council felt it was important to maintain the existing tax rates.”

Last Wednesday during their council meeting, M.D. Council held the tax rates to last year’s rates of 2.76630 for Residential, 5.00000 for Farmland, 11.60000 for Non-Residential (Small Business), 14.50000 for Non-Residential (Other), and 14.50000 for Machinery & Equipment.

In keeping with the negotiated terms of the I.D. 349 Order in Council O.C. 121/2021, tax rates for that area’s Non-Residential (Other) and Machinery & Equipment are set at 70 percent of the M.D. rates until 2045. This tax rate is set at 10.15000 for those properties within the former I.D. borders.

Council has estimated that $99,195,011 will be generated from municipal taxes to fund expenditures for 2021. “Council chose to reduce spending to balance the budget this year,” states Reeve Sawchuk. “The new Council being elected in October will be faced with managing a continual decline in assessments, the mandated 5:1 Non-Residential/Residential tax ratio provincial requirement, and an increased downloading from other levels of government such as the carbon tax.”

- Advertisement -

Due to a 12 percent increase in the Education Tax Rate set by the provincial government for Residential/Farmland assessment classes, Manager of Administrative Services Calvin Bespalko says the majority (65 percent) of single-family residential property owners in the M.D. will see a decrease in their 2021 taxes. Thirty-five percent of single-family residences will pay slightly more (up to $100) because the school education tax increased more than their property value adjusted down. This is based on reviewing 5,343 single-family residential properties.

M.D. taxpayers who have multiple property classes on their tax notice, not just single-family residential, may see a different scenario in their tax numbers.

If M.D. taxpayers have any questions about their tax notice and the valuations, they can contact the Administration Office

From an M.D. of Bonnyville Press Release

- Advertisment -
- Advertisment -
- Advertisement -

Continue Reading