Elk Point residents are set to see an increase in property tax bills for the second consecutive year, despite the efforts of the town council to mitigate the rise.
General Municipal rates on Residential and Farmland will climb from 10.0234 mills to 10.6048 mills, while Non-Residential rates will increase from 22,0080 mills to 23.2845 mills. Additionally, Non-Residential Vacant properties will see a hike from 24.3020 mills to 25.7115 mills.
The Alberta School Foundation Fund levies will also experience an uptick, with rates for Residential and Farmland rising to 2.5348 mills compared to 2.5412 mills in 2023, and Non-Residential rates climbing to 3.7569 mills from 3.7059 mills.
Despite last year’s decrease on Designated Industrial Property, which dropped to 0.0746 mills from 0.0766 mills in 2022, this year sees the tax increase back up to 0.0765 mills, just slightly below the 2022 figure. Similarly, the MD of St. Paul Seniors Foundation levy, which dropped last year to 0.2725 mills from 0.4068 mills 2022, has now increased to 0.5043 mills.
These tax increase adjustments were made following detailed discussions on income and expenses during Elk Point Town council’s recent meeting.
In addition to financial matters, discussions also touched upon the town’s involvement with Elk Point Airport. Despite consideration withdrawing from the airport’s operation, the council ultimately voted to rescind the resolution to partner with the County of St. Paul and notify the county and province of their decision to cease operations at the airport as of June 1, 2024.
Other notable discussions included the approval of the 2024 Operational Budget, which dropped expenses to a 5.8 percent increase from 8.2 percent with the removal of the airport costs. The town also addressed the establishment of the Municipal Controlled Corporation, Elk Point investment corporation, following an oversight from previous approvals.