Title
2018 Tax Rate Bylaw 2018-08
Proposed Motions
1. That Bylaw 2018-08 receive first reading.
2. That Bylaw 2018-08 receive second reading.
3. That Bylaw 2018-08 be presented at this meeting for third reading.
4. That Bylaw 2018-08 receive third and final reading.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
To adopt the 2018 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 10, 2018 Council approved a revised budget which resulted in a net municipal tax levy requirement of $56,986,300. This levy as well as the required tax levies for the TransAlta Tri Leisure Centre, Edmonton Metropolitan Region Board (formally known as Capital Region Board), Designated Industrial Property, Senior's Foundations and the Education requisitions result in a total tax levy requirement of $84,156,548 (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 2018 Education Property Tax Requisition for Parkland County has increased by 4% (Attachment 3). The Alberta Government provides information on the Education Property Tax to residents (Attachments 4 & 5).
Strategic Plan/Policy/Legal/Staff Implications (As required)
Part 10 Division 2 of the MGA
Financial Impact:
Cost: $84,156,548 (includes $40,000 estimated minimum tax levy)
Source of Funding: Taxation