Leduc City Council passes reduced property tax rate of 2.78%
Youth, seniors, family and community support and waste diversion are recognized as key area enhancements in the 2019 budget as council passed the 2019 Property Tax Bylaw seeing a 2.78 per cent tax revenue increase, which was reduced from the previously forecasted 2.89 per cent.
In December, council set a 2.89 per cent tax revenue increase for all residential and non-residential properties. However since then, a cost savings was found through enhanced transit services which helped to reduce that rate by 0.11 per cent.
“We recognize the challenges this year in reaching our municipal tax rate, and we’re confident that through the diligent efforts of council and administration, we’ll continue on this positive road in the coming years to do all we can to help minimize the overall tax impact to our citizens,” says Leduc Mayor Bob Young.
The 2019 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.
Following the provincial election, the City of Leduc is forecasting the provincial education tax (collected on behalf of the province) in order to meet legislated deadlines for property tax notices and assessment.
“I believe we set a responsible provincial education rate based on the information we are taking a five-year average and applying that to our 2019 Property Tax Bylaw,” says Jennifer Cannon, director of Finance with the City of Leduc. “We took a conscientious approach to avoid compounding the rate going into 2020 as the money we collect is a direct flow-through to the Government of Alberta.”
For more information, call 780-980-7177.
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Mariann McLaughlin, Corporate Communications