2023 Tax Rate Bylaw Approved by Council
Posted on May. 2 2023On Monday, May 1, Council adopted the 2023 Property-Taxation Bylaw 03.23 – Property Tax Bylaw, as presented by Administration.
Each year, properties are reassessed on a widescale appraisal system. Property values included in the 2023 Property-Taxation Bylaw 03.23 - Property Tax Bylaw are based on market values established by the 2022 assessment roll.
The mill rate is the amount of tax payable per dollar of the assessed value of a property. As a property may be subject to a tax by several different authorities, mill rates are set by each taxing authority to meet the projections in their budgets. The 2023 residential mill rate has decreased to 11.86862 from 12.10984 in 2022. The 2023 combined non-residential mill rate is 19.41480 compared to 19.15279 in 2022.
The 2023 Operating Budget detailed a 4.8% increase in the municipal property tax requisition. On average, Drumheller residential taxpayers will see an increase of 2.9% in their tax bill, while non-residential taxpayers will see an increase of 3.8%.
“Our Administration, under the direction of this Council, has worked diligently to balance the inflationary cost environment impacting this budget year with that of trying to minimize the impacts to ratepayers,” shares Councillor Tony Lacher. “We are satisfied that this goal has been accomplished and that a reasonable increase in taxes has been achieved.”
Other Property Tax Requisitions
- Alberta School Foundation Fund is $2,290,787 for 2023, a decrease of $32,327 from 2022.
- Christ the Redeemer Catholic Schools is $380,128, a decrease of $5,364 from 2022.
- Designated Industrial Properties is $2,755, an increase of $57 from 2022.
- 2023 amounts levied on behalf of the Alberta School Foundation Fund (ASFF) include an additional $9,381 as taxes collected in 2022 on behalf of ASFF were insufficient to cover the requisition due to assessment changes after taxes were levied.
Examples found in Appendix 4 of Bylaw 03.23
- A $171,000 residential property will see a tax bill increase of $82 per year, or $6.83 per month.
- A $511,000 commercial property will see a tax bill increase of $666 per year, or $55.50 per month.
The 2023 property tax and assessment notices will be mailed out during the week of May 22. Any residents who have not received a notice by early June are encouraged to contact Town Hall. The property tax payment deadline is August 31, 2023.
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