Title
2016 Tax Rate Bylaw 2016-15
Proposed Motions
1. That Bylaw 2016-15 receive first reading.
2. That Bylaw 2016-15 receive second reading.
3. That Bylaw 2016-15 be presented for third reading at this meeting.
4. That Bylaw 2016-15 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
Pursuant to Part 10, Division 2 of the Municipal Government Act, Council must annually adopt a property tax bylaw. The tax bylaw 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 19, 2016 Council approved a revised budget which resulted in a net municipal tax levy requirement of $52,367,800. This levy as well as the required tax levies for the Family Leisure Centre, Capital Region Board, Senior's Foundations and the Education requisitions result in a total tax levy requirement of $76,333,204 (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 (As required)
Part 10 Division 2 of the MGA
Financial Impact:
Cost: $76,373,204 (includes $40,000 estimated minimum tax levy)
Source of Funding: Taxation