Local Journalism Initiative
Council passed the tax rate bylaw during the regular council meeting on May 5, which is based on the approved 2020 operating budget.
Council provided first and second reading at the April 21 regular meeting and since then, two amendments were made to the bylaw.
After council asked what the CSRD acronym used in the bylaw meant during the April 21 meeting, administration amended the bylaw to include the full name and accurate acronym, which is Evergreens Catholic Separate Regional Division (ECSRD).
The Bylaw showed the acronym each year but did not state the full name in the same way the Alberta School Foundation Fund was reflected.
Another amendment reduced the tax rate from .0000786 to .0000760 as set out by Municipal Affairs for 2020.
The total Designated Industrial Tax Levy and assessment value has been decreased to reflect the new amounts provided by Municipal Affairs.
“An additional amendment was needed for the designated industrial property information to reduce the rate as was set out by municipal affairs in 2020,” said CAO Emily Olsen.
The approved 2020 operating budget is $29,137,747, and the Tax Rate Bylaw is required to raise the general municipal taxation amount approved in the budget of $13,013,023.
Tax rates for 2020 will be decreasing by 3.1 per cent and includes the requisitions for the Education Property Tax and the Evergreen Foundation, which are set by the province.
The amount of education property tax to be requisitioned is $4,096,619.
Non-residential school tax owing would be deferred due to COVID-19 so that businesses could pass on savings to their employees by helping to keep them employed.
The operational component of the Evergreen Foundation requisition is $312,446.
In 2020, there was a capital requisition in the amount of $507,997 for the Pine Valley Lodge. Town reports state that Hinton’s requisition represents 9.73 per cent of the total regional request.