City Council gave final approval on Monday to the 2019 tax rate.
The total tax increase is 1.89 per cent for residential and non-residential property types, and 4.09 per cent for multifamily property types.
It’s comprised of the municipal tax requirement, the requisition for Alberta Education and the Piper Creek Foundation (now operating as Bridges Community Living).
Joanne Parkin, the city’s revenue and assessment services manager said this year, The City will collect $46.3 million in property taxes on behalf of the Government of Alberta to fund the school system. “This comprises 28% of the average residential tax bill.”
The approved $136.4 million municipal property tax requirement will also fund City of Red Deer programs and services — from roads and parks, to police and emergency services.
A typical house assessed at $325,000 will pay $4.87 per month more in total property tax. This brings the total annual tax bill to $3,151 from $3,092 in 2018, which is an increase of $58.44 annually.
Property tax notices will be mailed on May 21. Taxes are due on Friday, June 28.