Title
Bylaw 2020-06 - 2020 Tax Rate
Proposed Motions
1. That Bylaw 2020-06 receive first reading.
2. That Bylaw 2020-06 receive second reading.
3. That Bylaw 2020-06 be presented at this meeting for third reading.
4. That Bylaw 2020-06 receive third and final reading.
5. That Council approve authorization of electronic signature for Bylaw 2020-06 in accordance with Section 213 of the Municipal Government Act.
Body
Administration Recommendation
Administration supports the proposed motions.
Purpose
To adopt the 2020 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 14, 2020 Council approved a revised budget which resulted in a net municipal tax levy requirement of $62,212,950. This levy as well as the required tax levies for the TransAlta Tri Leisure Centre, Edmonton Metropolitan Region Board, Designated Industrial Property, Royal Canadian Mounted Police, Senior's Foundations and the Education requisitions result in a total tax levy requirement of $89,506,138 (Attachment 2). It is important to note that the municipality has no control over education taxes. The municipality is only responsible for levying them. The 2020 Education Property Tax Requisition for Parkland County remains the same as 2019.
Strategic Plan/Policy/Legal/Staff Implications (As required)
Part 10 Division 2 of the MGA
Financial Impact:
Cost: $89,506,138 (includes $40,000 estimated minimum tax levy)
Source of Funding: Taxation