Red Deer County taxpayers will see a modest one per cent rate increase after county council approved the county’s 2015 tax rate bylaw last week. The bylaw approved remains unchanged from the one presented last month.
Overall taxation revenue in 2015 will increase 3.5 per cent — most of which will come from new development.
The rate increase means residential taxes will now sit at $374.06 for every $100,000 in assessed value — up from $371.40 in 2014. That translates to an increase of $13.30 for a $500,000-assessed property.
Non-residential rates will sit at $1,100.55 for every $100,000 — up from $1,090.70 in 2014. That means an increase of $49.25 on a $500,000 property.
Environmental, community and protective services levies will remain unchanged at 0.1590, 0.4000, and 0.5000, respectively, while the seniors housing levy will decrease from 0.0209 to 0.0200.
Of the county’s $67.7 million 2015 budget, $43.8 will come from taxation. Funded from it are road and infrastructure maintenance, water and waste management, community services and other county projects and initiatives.
County Mayor Jim Wood noted last week that he felt the budget is in line with county council’s strategic goals, and allows for competitive tax rates to be maintained.
Taxes are due by the end of June.