LEDUC COUNTY COUNCIL APPROVES 2010 FINAL BUDGET
Thursday, May 6, 2010
Leduc County, AB – At the special council meeting held earlier today, Leduc County Council gave final reading to the 2010 Tax Rate bylaw. In preparation for the final 2010 budget, County Council provided direction for Administration to not exceed a three per cent (3%) municipal tax increase; Council and Administration came in under the set limit with a 1.27% municipal tax increase. County Council approved the proposed $59.7 million operating budget and the capital budget of $14.7 million for 2010.
It is very important to note that this increase of 1.27% is for County use. The Alberta School Foundation Fund (ASF) set by the Province increased by $1.02 million or eight per cent (8%). The County has no control over these ASF levies and is obligated to levy this extra amount as property taxes. Concerns regarding these ASF levies should be directed to your MLA.
As a result, Council set the 2010 residential tax rate at 0.00536.
The tax rate for Leduc County farmland is set at 0.01248.
The non-residential tax rate for properties including the Nisku Industrial Business Park is set at 0.01069, an increase of seven point two per cent (7.2%) from the 2009 tax rate of 0.00997.
The machinery and equipment tax rate is set at 0.00721, which is an increase of five point two per cent (5.2%) compared to the 2009 tax rate of 0.00685.
"What this means is that for most residential properties, about 4500 out of 5370, or eighty four per cent (84%), will experience increases of less than $150," says Rob Ballhorn, Director of Assessment Services for Leduc County. "For non-residential properties, 930 out of 1130, or eighty two per cent (82%), will experience tax increases of less than $1000."
It is also important to note that you may still experience changes in your tax notice due to adjustments in
market value assessments and the mill rate. Individual property tax notices may increase or decrease
-more-
depending upon market value changes specific to each property. Since the property assessment for 2010 tax reflects market value as of July 1, 2009, the assessed value may be lower or higher than today's current market value on some properties.
Tax notices will be mailed to residents the last week of May, 2010. Taxes are due by June 30, 2010.
Leduc County offers a variety of payment options to residents, which are detailed on the back of the tax notice. For more information on your property assessment or your taxes, please contact Leduc County Centre at 780-955-3555 or toll-free at 1-800-379-9052.
-30-
