BY ANDY ISBISTER, CHIEF FINANCIAL OFFICER, TOWN OF MORINVILLE
At this time of year, Council reviews the property Tax Bylaw for 2013. Following this review and the passing of the Bylaw you will be receiving your property assessment and tax notice for 2013.
Your tax bill is made up of three components:
1) Municipal component. During budget deliberations for the 2013 year, Council projected a 2% increase in the municipal portion. Due to growth experienced in 2012, this amount, for the average ratepayer, has been limited to 1.25% or on average $22.91 per year.
2) School portion of your tax bill. This amount is determined by the Government of Alberta. While we had projected an increase of 2% in the Provincial requisition, the actual increase, as determined by the Alberta Government is 13.66%. Because of the growth in our assessment base, the average ratepayer will see an increase of 10.50% or an average of $69.94 per year.
3) Sturgeon Foundation requisition. We had projected an increase of 2% for this requisition; however Sturgeon Foundation had increased their requisition by 4.31%. Again, because of growth, the average ratepayer will see an increase of 1.88% or $0.49 per year.
Accordingly, the average ratepayer will see a total increase of about $93 per year in their residential taxes or 3.68%.
Amounts for your individual home may vary from these percentages, dependent on the total value of your home (the average home is assessed at $281,957) as well as any improvements that may have been made on the home in 2012 (such as the construction of a garage).
Tax payments are due by June 30, 2013 and may be made in person, by mail to the Town Office, through telephone and internet banking or through our pre authorized payment plan. The pre authorized payment plan offered by the Town allows you to spread your tax payment over 12 months. No penalties are assessed to ratepayers utilizing the pre authorized payment plan providing all payments are made on time.
If you have any questions regarding your taxes, your assessment or methods of payment, please feel free to contact us at 780-939-4361.