Turner Valley… At the Regular Meeting of Council held Monday, May 15, Council passed Bylaw 17-1068 authorizing the rates of taxation for the 2017 tax year.
For the third year, the municipal mill rate will be 7.99999.
While the 2017 municipal tax rate is being maintained at the 2015/2016 levels, assessment values decreased slightly for some homes, which will result in a modest decrease in municipal taxes. Many homes maintained the same assessed value as 2016 yielding no municipal tax increase, while some saw minor increases in assessment, with a corresponding minor increase in their municipal levy.
As an example, a home in Turner Valley with an assessed value in 2016 of $387,200, the 2016 municipal tax levy would have been $3,098. The 2017 assessed value has dropped by $100 which equates to a 2017 municipal tax levy of $3,097. This does not include the Provincial Educational or Seniors’ Accommodation levies.
The Provincial Education Requisition has increased significantly, but due to growth, the increase will be spread over more properties and will not have a significant impact on homeowners.
The same home paid $919 in 2015 to the Province for the Provincial education levy. Due to growth in the Town, the 2017 educational tax levy has dropped to $894 for that home.
For industrial and commercial ratepayers, the municipal tax rate for 2017 remains at 8.57999. Many of these properties saw a decrease in assessed values, which will result in a lower municipal tax levy. However, some Provincial properties are no longer assessable for the Provincial Education levy.
Due to the increase in the Provincial Educational levy, and the reduced number of properties subject to the levy, non-residential properties will see an increase in their Provincial Education levy.
The 2017 Capital Budget is quite ambitious, and in addition to the continued flood recovery work and necessary infrastructure and equipment upgrades, several community enhancements are planned, including:
• Additional traffic speed signs and crosswalks
• Continued enhancement of parks, playgrounds, and pathways
• Completion of water meter replacement program
• Widening of a portion of Main Street
• Emergency Operations and Fire Department equipment