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Most Coaldale Property Owners Will See Small Tax Increase

 
 

COALDALE:  Councillors are striving to keep property tax increases to a minimum while maintaining services and they have managed that.

Coaldale homeowners will see a property tax increase that works out to about $5 amount, or about $59 for the average household. That figure is below the inflation rate.

A re-adjustment of some home assessments, may mean other home owners will see a slight drop in their taxes....but, only by about $12.

The town's Chief Financial Officer Michelle Overbeeke, reminds everyone that those numbers are just an 'average', as some
homeowners will pay less than that, some will pay more and others will actually see their taxes drop.

Assessment value plays a major role in the amount of taxes residents pay - the more the assessed value of a property goes up, so does the amount owed in taxes. However, very few Coaldale homes have increased significantly in value, so very few homeowners will see a major tax increase.

Also,Coaldale utility rates are unchanged.

To achieve a limited tax increase, it will mean "some vacant positions won't be filled in 2013 in order to keep costs down, and the search for alternative revenue sources and greater efficiencies will become a priority". Mayor Kim Craig notes, "Unlike urban centers, smaller communities such as Coaldale don't have a strong commercial and industrial tax base to help keep the burden off of homeowners. The Town has taken a number of major steps toward attracting new business to Coaldale, but it will take time."

"Total 2013 operating budget: $14,381,150

-- Property taxes: $5,864,049
-- Education tax (Prov): $1,997,310
-- Provincial FCSS (Prov): $50,562
-- Green Acres (Prov): $91,289
-- Grants, users, utilities: $6,377,911




Posted on Thursday, April 25, 2013 at 4/18/2014 1:33:25 PM
Source: Dori Modney (@Dori_Modney on Twitter) -- Country 95 News Photo
 
 
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