Drumheller town council passed its 2023 Property Taxation bylaw, which saw the mill rate on residential properties decrease slightly over the previous year, during the regular Monday, May 1 council meeting.
While the mill rate is down slightly, some residents may still see an increase on their municipal tax bill due to assessment value increases over the last year.
To determine property assessment value, Wild Rose Assessment Services Inc. looks at the market value on similar properties annually on July 1; a second assessment date takes into consideration the physical condition of the property as of December 31 of every year.
Assessment values on residential properties increased by about five per cent over the previous year, approximately $33.1 million. This was mostly due to increases in property market value.
Non-residential properties also saw assessment increases of about 2.4 per cent, or approximately $5.5 million. Similar to residential property assessments, this was mostly due to market value increases.
Due to subdivision of lots at Raptor Ridge RV Resort, the number of taxable residential assessment rolls increased by 134. Tax exempt properties also increased by a total of 21, which is mostly due to properties purchased under the Town’s flood mitigation program.
Council approved the combined residential mill rate, which is calculated as the tax payable amount per dollar of the assessed property value, of 11.86862; this is down slightly from the 2022 mill rate of 12.10984. The combined non-residential mill rate is up slightly, from 19.15279 in 2022 to 19.41480.
The combined mill rate includes requisitions from the province for the Alberta School Foundation Fund (ASFF), and Drumheller and District Seniors Foundation (DDSF). While 2023 requisitions are down for both ASFF and DDSF, the amount being levied is up slightly as the amount collected in 2022 was insufficient to cover the requisition based on assessment changes after taxes were levied in 2022.
Residential taxpayers with a property assessed at $171,000 will see a tax bill increase of approximately $82 in 2023, or $6.83 per month, while commercial taxpayers with an assessment of $511,000 will see an increase of about $666 in 2023, or about $55.50 per month.
Property tax and assessment notices will be mailed out later in May. The property tax payment deadline is August 31.
Although taxes cannot be appealed, assessments can be challenged through the Assessment Review Board.
