Red Deer County taxes may increase 3.89 per cent

Red Deer County homeowners could face a potential 3.89 per cent tax hike on their municipal tax bills

Red Deer County homeowners could face a potential 3.89 per cent tax hike on their municipal tax bills.

Red Deer County council gave first reading to the tax rate bylaw on Tuesday.

The rate is increasing $14.07 per $100,000 in assessed value for residential properties.

For example, an owner of residential property assessed at $500,000 would pay $70.35 more in municipal taxes this year than in 2013.

For non-residential property, the rate is increasing by $23.77 per $100,000 in assessed value.

In this case, the owner of non-residential property assessed at $500,000 would pay $118.85 more in municipal taxes for 2014.

The county’s budget is $64.9 million for 2014.

Council will consider second and third reading of the bylaw at its May 6 meeting.

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