File Photo

File Photo

Sylvan Lake Town Council approves unchanged municipal tax rate

A drop in property values will result in the average property paying slightly more in property taxes

Sylvan Lake Town Council passed the 2021 Property Tax Bylaw at the recent meeting of council, with no increases.

In February, Town Council passed the 2021 Budget which included the second year without an increase for residential and non-residential municipal taxes.

The 2021 Budget was passed “assuming that the market value of existing properties would be relatively unchanged from the prior year and assessment growth, or new assessment added, would equal approximately $20 million,” according to the report presented to Council Monday night.

The overall market value on existing properties dropped by 1.1 per cent from 2020, or nearly $30 million. Meanwhile the new assessment added for 2021 was just over $24 million.

The decision to leave the residential and non-residential taxes unchanged from last year was heavily affected by the continuation of the COVID-19 pandemic.

“By not raising the tax rate for two consecutive years, the Town of Sylvan Lake continues its commitment to helping property owners recover from the financial effects of the pandemic.”

Additionally, the Town has chosen to forego a supplementary tax this year, as the local economy continues to struggle.

With the unexpected drop in market values from 2020, the Town is expecting to see a shortfall of $394,000 from taxes.

The shortfall will be made up from the “unrestricted accumulated surplus for the 2021 fiscal year.”

“Provincial education taxes have gone down marginally for the 2021 taxation year,” the Town said.

However, education taxes will rise slightly for Sylvan Lake due to the drop in assessment this year.

According to the report to Council, the education tax rate for residential properties is 2.5966 per cent and 3.8320 per cent for non-residential properties.

“The overall combined tax rates increase marginally for 2021. This in combination with the drop in property values, will result in the average property paying slightly more in property taxes in 2021.”

The municipal tax rate for residential properties for 2021 is unchanged from last year at 5.7440 per cent and 9.0248 per cent when the provincial education tax and levies are included.

Non-residential properties sit at a municipal tax rate of 10.1730 per cent, the same as the year before. This rises to 14.6892 per cent with the addition of the provincial education tax and levies.

Returning to pre-pandemic timelines, the Town will send out combined assessment and taxation notices at the end of May. The payment deadline is July 31, 2021.

“The Aug. 1 and Sept. 1 penalties of 7 per cent will once again be applied on outstanding 2021 balances at that time with a 14 per cent penalty being applied on Jan. 1, 2022 on all amounts outstanding.”

Just Posted

Alberta’s chief medical officer of health Dr. Deena Hinshaw is asking Albertans to do their part by observing gathering limits, staying home if unwell, wearing masks and maintaining physical distance. (Photo by Chris Schwarz/Government of Alberta)
Three new Central zone COVID-19 deaths, Alberta adds 1,433 cases

Red Deer down to 802 active cases of COVID-19

Alberta’a chief medical officer of health Dr. Deena Hinshaw said Thursday that there are more than 328,000 vaccine appointments booked over the next seven days. (Photo by Chris Schwarz/Government of Alberta)
Alberta surpasses 2 million doses administered of COVID-19 vaccine

Red Deer down to 835 active cases of COVID-19

Alberta Premier Jason Kenney arrives at the 2021 budget in Edmonton, Thursday, Feb. 25, 2021.
‘We did not unite around blind loyalty to one man’:Kenney faces internal call to quit

Senior backbench member Todd Loewen, in a letter posted on Facebook, called on Kenney to resign

Alberta continues to wrestle with high COVID-19 case numbers. (NIAID-RML via AP)
Red Deer up to 858 active cases of COVID-19

Province reports additional 1,799 cases of the virus

Town of Sylvan Lake. File Photo
Sylvan Lake residents affected by Boil Water Advisory to be compensated

Sylvan Lake Town Council says the roughly 3,700 residents affected last month will be compensated

Marc Kielburger, screen left, and Craig Kielburger, screen right, appear as witnesses via video conference during a House of Commons finance committee in the Wellington Building in Ottawa on Tuesday, July 28, 2020. The committee is looking into Government Spending, WE Charity and the Canada Student Service Grant. THE CANADIAN PRESS/Sean Kilpatrick
Trudeau didn’t violate conflict rules over WE Charity, watchdog says

Federal ethics commissioner Mario Dion found that former finance minister Bill Morneau did violate the rules

Chief Public Health Officer Theresa Tam listens to a question during a news conference, in Ottawa. THE CANADIAN PRESS/Adrian Wyld
Restrictions will lift once 75% of Canadians get 1 shot and 20% are fully immunized, feds say

Federal health officials are laying out their vision of what life could look like after most Canadians are vaccinated against COVID-19

Chris Scott, owner of The Whistle Stop Cafe, was put in handcuffs after an anti-restriction protest Saturday in the parking lot of the business. (Screenshot via The Whistle Stop Facebook page)
Alberta RCMP investigating possible threat to police after Mirror rally

Online images show RCMP members, vehicles in crosshairs of a rifle

An Israeli attack helicopter launches flares as he flies over the Israeli Gaza border, southern Israel, Thursday, May 13, 2021. (AP Photo/Ariel Schalit)
Singh calls for halt on Canadian arms sales to Israel as violence escalates in region

Government data shows Canada sent $13.7 million in military goods and technology to Israel in 2019

New homes are built in a housing construction development in the west-end of Ottawa on Thursday, May 6, 2021. THE CANADIAN PRESS/Sean Kilpatrick
Budget’s foreign-homebuyers tax could bring in $509 million over 4 years, PBO says

Liberals are proposing a one per cent tax on vacant homes owned by foreign non-residents

A Canadian flag patch is shown on a soldier’s shoulder in Trenton, Ont., on Thursday, Oct. 16, 2014. The Canadian Forces says it has charged one of its members in the death of an army reservist from British Columbia during a training exercise at a military base in Alberta last year. THE CANADIAN PRESS/Lars Hagberg
Canadian Forces member charged in death of army reservist during training exercise

Cpl. Lars Callsen has been charged with one count of negligence

A youth plays basketball in an otherwise quiet court in Toronto on Saturday April 17, 2021. The Canadian Civil Liberties Association is urging the federal and provincial governments to fight COVID-19 pandemic by focusing on proven public health policy interventions including paid sick leave, and education rather than punitive enforcement measures. THE CANADIAN PRESS/Chris Young
Provinces issued more COVID-19 tickets during 2nd wave: CCLA report

‘A pandemic is a public health, not a public order, crisis,’ reads the report

Prime Minister Justin Trudeau holds a press conference in Ottawa on Tuesday, May 11, 2021. Trudeau is rejecting accusations from Alberta’s justice minister that his federal government is part of a trio rooting for that province’s health system to collapse due to COVID-19. THE CANADIAN PRESS/Sean Kilpatrick
Alberta justice minister sorry for saying feds, others rooting for COVID disaster

Earlier Tuesday, prior to Madu’s apology, Trudeau rejected the accusations

Most Read