June 22nd, 2024

Property taxes in Redcliff to rise by 6.4%

By Medicine Hat News on May 28, 2024.

@MedicineHatNews

Property taxes for the average residence in Redcliff will rise by about $134 in total this year, equating to a 6.4 per cent rise.

That’s a higher percentage increase than on business property, as well as on farm property, which will experience a one-fifth decrease.

Tax rates approved earlier this month by the town’s council were lowered to offset rising assessment values, but the increase requires an additional $262,300 in tax revenue for municipal purposes to $6.42 million in the $11.5-million budget.

That is a 4.27 per cent increase from 2023, while the schools requisition from the province will collect $153,000 more (up 7 per cent) and the smaller Cypress View seniors housing levy rises by $5,600 (up 5.9 per cent).

The median home in the town, valued at $289,000 by town finance officials, would pay $71 more in municipal tax, $62 in school tax and $3 for Cypress View.

The average non-residential (commercial or industrial) property, valued at $547,000, would be charged and an additional $392 in total (4.25 per cent more), while the smaller farm class would see an average bill reduced by $770.

Tax notices were mailed May 24 and are payable by June 30 without penalty.

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