CLYDE — Even though the assessed value of their properties may have risen, most Village of Clyde residents should see little change in their 2024 taxes due to the mill rate remaining the same from last year and the senior’s housing/education requisitions slightly decreasing.
During their May 13 meeting, Village of Clyde councillors passed all three readings on their tax rate bylaw, which established the tax rates for the year.
Chief administrative officer Jaye Parrent said the bylaw was prepared in line with the discussions held during budget deliberations.
As stated in the bylaw, the village expects nearly $2 million million in expenditures and transfers in 2024 and will raise an estimated $531,000 through taxation, with the rest coming from government transfers and other sources.
Before requisitions are calculated in, the mill rate (ie. the amount of tax payable per dollar of a property’s assessed value) for residential properties and farmland is 10.5 on residential properties and farmland and 19.5 on non-residential properties and designated industrial properties.
Parrent indicated there is no increase to the village's tax rate from last year, though there is a $50 increase to those paying the minimum amount of tax, which will now be $850.
She said this increase is “to ensure that all properties are contributing to the level of service (within the village).”
Parrent suggested that a residential home valued at $250,000 will see an increase to its assessed value of $7,250, or 2.9 per cent.
However, the Westlock Foundation and Alberta School Foundation Fund requisitions have fallen a little from 2023, so “it just almost balances out,” Parrent said.
In the end, the total 2024 tax rate is 13.606448 on residential properties and farmland and 24.001448 on non-residential properties and 24.76448 on designated industrial properties.
For reference, the total 2023 tax rate was 13.9957 on residential properties and farmland, 23.92317 for non-residential properties and 24.68317 on designated industrial properties.
