Coaldale town council unanimously passed the property tax bylaw stipulating a zero per cent residential municipal tax rate increase in 2021, according to a recent media release.
“The zero per cent increase was requested by council in light of the COVID-19 pandemic and related financial relief measures,” stated Coaldale Mayor Kim Craig.
“This marks the third consecutive year of zero percentage tax increases in Coaldale. On top of this, one of our strategic priorities this council term has been growing our non-residential tax base and we’re very proud of the tremendous growth in commercial and industrial investment we’ve been able to attract to the community over the past few years,” Craig added.
Residential tax bills in Alberta are determined by three separate factors:
1. Municipal tax: The Town of Coaldale collects approximately 76 per cent of a single tax dollar. These funds are used to support municipal services like fire departments, roads, water and sewer utilities, parks and recreation infrastructure.
2. Education tax: Approximately 23 per cent of a municipal property tax bill is collected by the province to fund education in the community. The town simply collects the bill on the province’s behalf.
3. Senior housing tax: The remaining 1 per cent is collected to support senior housing in the community. In Coaldale, this fund is managed by the Green Acres Foundation.
“While the town’s residential tax rates will not go up this year, residents may still see a change in their property tax bills,” noted Kyle Beauchamp, chief financial officer at the Town of Coaldale.
“There are elements to the final tax bill outside our control. However, town council and administration are committed to playing their part in keeping that number down for residents,” Beauchamp added.
A zero per cent tax increase was also applied to the town’s 2021 non-residential municipal tax rates.
“Coaldale’s competitive tax rates have been one of many driving factors contributing to the expansion of Coaldale’s non-residential tax base,” stated Cameron Mills, manager of Economic Development at the Town of Coaldale. “Having our new non-residential mill rate come in below 1 per cent means we’re a very attractive community for new business investment; our rate in 2021 of 0.986 per cent compares favourably to other communities in the area, including Lethbridge at 2.133 per cent — which represents tremendous cost savings for business and is part of what has made Coaldale so attractive for investors in recent years.”
“We’re proud of the work we’ve done in terms of keeping our costs down even while we take on a significant number of major projects,” added Craig. “We’ve made a lot of important strategic decisions this term that have allowed Coaldale to get amazing value for the dollars it spends, and that in-turn has allowed us to pursue a number of once-in-a-generation projects — while simultaneously keeping tax rates down. This latest bylaw is simply another positive demonstration of the commitment to value that has been at the forefront of this council term.”
This editorial orginated in the Sunny South News