Title
2019 Tax Rate Bylaw 2019-05
Proposed Motions
1. That Bylaw 2019-05 receive first reading.
2. That Bylaw 2019-05 receive second reading.
3. That Bylaw 2019-05 be presented at this meeting for third reading.
4. That Bylaw 2019-05 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
To adopt the 2019 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, 2019 Council approved a revised budget which resulted in a net municipal tax levy requirement of $60,387,750. This levy as well as the required tax levies for the TransAlta Tri Leisure Centre, Edmonton Metropolitan Region Board, Designated Industrial Property, Senior's Foundations and the Education requisitions result in a total tax levy requirement of $89,632,289 (Attachment 2). The School Requisition for 2019 has not yet been received, therefore, the 2019 mill rate is based on the average of the school mill rate from the past three years applied to the 2018 assessment value. It is important to note that the municipality has no control over education taxes. The municipality is only responsible for levying them. The Alberta Governement has not yet provided any information on the 2019 Education Property Tax for residents.
Strategic Plan/Policy/Legal/Staff Implications (As required)
Part 10 Division 2 of the MGA
Financial Impact:
Cost: $89,632,289 (includes $40,000 estimated minimum tax levy)
Source of Funding: Taxation