Enhanced transit savings applied to lower tax impact to 2.78%
Leduc’s tax revenue requirement for 2019 was originally set at 2.89 per cent, however with a cost savings found under transit services, Leduc City Council was able to apply this savings and reduce the tax requirement to 2.78 per cent.
“Speaking on behalf of council, I am extremely pleased with the collaborative work between council and administration in reducing our forecasted 2019 tax impact from 2.89 per cent to 2.78 per cent,” says Leduc Mayor Bob Young. “We are supporting our community through its growth and will continue to look for ways to maintain our competitive tax rates and financial stewardship.”
Council and administration were successful in identifying four enhanced service levels in the 2019 budget:
- Youth wellness initiative
- Leduc Recreation Centre (LRC) seniors’ facility access initiative
- Family and Community Support Services client service levels
- Waste diversion public education initiative
“As council, we are committed to financial sustainability in Leduc,” says Young. “We recognize the needs of our citizens to maintain service levels, provide enhancements where it makes sense and plan for the future."
The projected 2.78 per cent tax revenue requirement equates to an increment of $79 for the year ($7 per month) for an average market value home of $350,000; based on the municipal portion.
On Dec. 3, 2018, city council passed a 2.89 per cent tax revenue increase, down from the projected 4.32 per cent, due to:
- Integrating enhanced transit costs over three years instead of two
- Council’s discretion to use allotted dollars for tax mitigation and enhanced services
- Use of one-time funding
The 2019 Property Tax Bylaw will go before council on April 29, 2019 for second and third reading. For more information, call 780-980-7177.
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Mariann McLaughlin, Corporate Communications