Mill Rate approved | Dinosaurvalley.com
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Mill Rate approved


FOR IMMEDIATE RELEASE

 

Date May 14 2019

 On May 13 2019, council approved the 2019 Mill Rate.

The 2019 Operating Budget which was previously approved by Council on March 18th, 2019 detailed a 1.9% increase to the municipal property tax requisition.

The 2019 Alberta School Foundation Fund (ASFF) requisition was estimated to decrease based on year over year equalized assessment values, and therefore, most residential ratepayers will see a decrease in the ASFF levy amount on their tax notice.

The 2019 Drumheller and District Seniors Foundation requisition decreased slightly (0.66%) over 2018.

"The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills." It is a figure that represents the amount per $1,000 of the assessed value of property, which is used to calculate the amount of property tax." explained Darryl Drohomerski CAO of the Town of Drumheller.

The examples below show the effect on an average tax bill, reflecting adjustments to the municipal, school and seniors foundation combined.

Examples are:

A $200,000 residential property will see a tax bill increase from $2,225 in 2018 to $2,267 in 2019, a monthly increase of $3.50

A $300,000 residential property will see a tax bill increase from $3,337 in 2018 to $3,401 in 2019, a monthly increase of $5.33.

A $500,000 commercial property will see a tax bill from $8,658 in 2018 to $8,770 in 2019, a monthly increase of $9.33.


For more Information Contact:

Barb Miller

Deputy CAO/Director of Corporate Services

403 823 1311

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