Title
Tax Rate Bylaw 2024-14
Proposed Motions
1. That Bylaw 2024-14 receive first reading.
2. That Bylaw 2024-14 receive second reading.
3. That Bylaw 2024-14 be presented at this meeting for third reading.
4. That Bylaw 2024-14 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To adopt the 2024 Property Tax Bylaw that establishes the property taxation rates, assessed against property within Parkland County, to raise sufficient tax revenue to fund municipal services and to provide for various requisitions from outside organizations.
Summary
On April 9, 2024 Council approved a revised budget which resulted in a net municipal tax levy requirement of $73,545,900. This levy as well as the required tax levies for the Designated Industrial Property, Senior's Foundations and the Education requisitions result in a total tax levy requirement of $106,007,425 (Attachment 2). It is important to note that the municipality has no control over education taxes. The municipality is only responsible for levying them.
Strategic Plan/Policy/Legal/Staff Implications
Municipal Government Act, Part 9, Division 2
Financial Impact:
Cost: $106,007,425 (includes $45,000 estimated minimum tax levy)
Source of Funding: Taxation