South Peace News
Mill rates in Big Lakes County are up slightly.
At it regular meeting April 24, council adopted a bylaw to increase the mill rates for property taxes.
“How that will affect each property, we don’t know,” acting reeve Ken Matthews says.
Council decided to increase the mill rate several months ago, he says.
“We approved that in November,” South Sunset House – Gilwood Councillor Ann Stewart says.
Declining revenue from assessment was a concern for council during the economic downtown.
“Our linear assessment has gone down drastically in the past few years,” Matthews says.
“To sustain current services and programs, we needed to find additional revenue, so council decided to increase the mill rate.”
Mill rate increases are not higher than 3 per cent.
“Our municipal tax rates increased by 3 per cent for residential and farmland properties and by 1.5 per cent for all other types of properties,” says Heather Nanninga, director of corporate services.
The rate for residential and farmland properties increased to .004435 from .004305.
The rate for other types of properties rises to .014720 from .01450.
Nanninga reminds landowners that taxes are based on assessment value.
She notes that the municipal taxes for a $250,000 residential property would increase by $32.50.
“However, property owners will note that several other factors affect the total amount of property taxes paid, including changes in the assessed value of the property and changes to the requisitions charged on behalf of school and seniors’ organizations,” Nanninga says.
In 2018, tax rates were increased for residential and farmland properties by 1.3 per cent, or the change in the Consumer Price Index for the preceding year, she says.
Non-residential tax rates were last changed in 2015.
Big Lakes will get some increased revenue from assessment, Nanninga says.
Assessment increases tax revenue from machinery and equipment by $898,000 or 21 per cent from 2018.
The county will get $502,000 more in linear assessment revenue, 4 per cent from 2018, resulting in a total of $12 million in revenue from linear assessment and $5.3 million from machinery and equipment.
Taxes notices are scheduled to be mailed in early May.
Taxes are due June 28.