The Town of Drumheller (TOD) held a Special Meeting on Monday, May 13, before the Committee of the Whole Meeting, to give third reading to the Tax Rate Bylaw 14.24 and to discuss the property taxes and requisitions towards the RCMP, Education and Seniors foundations.
As implemented by the Municipal Government Act, every year the TOD must levy property taxes within the Bylaw. The 2024 Property Tax Bylaw 14.24 must meet the Operating and Capital Budget requirements and provincial regulations set forth by the MGA.
TOD will collect just over $14 million in property taxes this year. 14.43 percent will go to covering the Town’s portion of the RCMP costs, totalling just over two million dollars. Provincial requisitions, such as the Alberta School Foundation and the Drumheller and District Seniors Foundation, will cost the town almost $3.5 million. The remaining 60 percent, or $8.5 million will be tax revenue towards the 2024 Operating and Capital Budgets.
In 2023, the average assessment for a single-family home was $234,000, in which the property tax was $2,123.
“We have ended up with a four percent increase on our operating budget, so to give you an idea, an assessed home at $234,000 will see about an $82 change (approximately $0.22/day) on that,” explains Councillor Tony Lacher at the meeting.
By comparison, last year’s budget called for an approximately 4.3 per cent tax increase.
Notices will be out by the end of May and taxes are due by the end of August.
