Ratepayers and landowners in Red Deer County can expect to see increases to their taxes, a slight increase to one levy and the implementation of a whole new levy after county council approved the 2014 tax bylaw.
The county expects to collect $42 million overall in levies.
Under the approved levy bylaw, residents will see their rate increase by 4.7 per cent from 2013; the farmland rate increases by four per cent; and non-residential property tax rate increases by 1.2 per cent from last year.
“The budget laid out earlier this year contains some very important infrastructure work that is key for Red Deer County’s future,” said mayor Jim Wood in a release. “This tax bylaw will allow us to collect the funds needed to complete this work in a timely and efficient manner.”
According to a county press release issued after council gave first reading to the bylaw, a residential property assessed at $500,000 will pay $70.35 more in municipal taxes in 2014 compared to 2013.
A non-residential property assessed at $500,000 will pay $118.85 more in taxes for 2014 compared to last year.
As well, the levy for protective services is up 25 per cent. Levies for community and environmental services remained unchanged.
New this year is a seniors housing levy, which is charged for the Parkland Seniors Foundation.
A minimum tax levy of $25 will cover the costs of providing the combined assessment and tax notice to county property owners.
Taxes are due on June 30.