by Morinville Online Staff
Council voted unanimously in favour of the second and third readings of Morinville’s 2023 tax bylaw, allowing the Administration to get tax notices out to residents and businesses ahead of the upcoming due date.
During the April 25, 2023, regular meeting, Council was presented with three funding options, showing support for the recommended option, which maintained a 3.5% tax rate increase established during budget deliberations last year.
Council’s approved tax rate bylaw generates an additional $273,737 in tax revenue over and above the current 2023 Operating Budget. $150,000 will go towards replacing the Morinville Community Cultural Centre’s (MCCC) boiler. The remaining $123,737 will go to budgeted reserve contributions for 2023.
Town Administration says this decision ensures that the repair of the MCCC boiler will no longer require a drawdown of reserves. It also provides that the 2023 budgeted reserve contributions increase to $440,978. The Town’s reserves have been greatly depleted over several years.
A motion to put $440,978 into reserves passed 6-1, with Deputy Mayor Scott Richardson objecting on the grounds that he’s requested to use some of the surplus to add hours tot he Morinville Leisure Centre.
Bottom Line For Tax Payers
The Homeland Housing property tax rate increased by 2.2% for 2023 after a significant decrease in 2022. The total Homeland Housing requisition for an average single-family home is approximately $30.39/year.
Residential education property taxes will decline by approximately $23/year for the average home in Morinville.
A home assessed at $346,439 will see increased property taxes of $151 /year or $12.50 per month.
The average commercial property will see an increase of roughly $261/year.
Total budgeted tax revenue will increase to $11,878,903, and total budgeted contributions to reserves will increase to $440,978.
With the approval of the second and third readings and the rescinding of the previous motion, the Administration will update the 2023 Capital Budget to include the replacement of the MCCC boiler funded through $150,000 in property tax revenue.