Title
2017 Linear Tax Appeal Budget Plan
Proposed Motion
That Council approve the 2017 Linear Tax Appeal Budget Plan as presented.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
TransAlta has submitted an appeal for the assessment value of Keephills 3, which may reduce the County's tax revenue.
Summary
On April 7, 2017, Parkland County was advised that Transalta had submitted an appeal for the linear assessment value of Keephills 3, which if won would result in a significant tax loss to the County. Although the decision will not likely be known until late fall of 2017 Parkland County is prudently planning for this potential outcome. On May 23, 2017 administration brought forward to Council a plan with potential budget cuts. This plan (Attachment 1) has been refined from the subsequent feedback received from Council.
Strategic Plan/Policy/Legal/Staff Implications:
Core Value - Responsibility - Parkland County will conduct itself in an open and transparent manner, and provide quality service to residents and clients through efficient and effective practices while we undertake continuous improvement.
Financial Impact:
Tax Savings from Budget Cuts: $3,217,500
Use of Unrestricted Surplus $2,700,000