DIDSBURY - Town council has given second reading to Didsbury's proposed 2024 tax rate bylaw, with the financial planning committee recommending a slight increase in the percentage non-residential will pay compared with residential.
The move came during the April 23 council meeting.
The committee is recommending that the 2024 split be 85.15 per cent residential and 14.85 per cent non-residential. The 2023 split was 85.6 per cent residential and 14 per cent non-residential.
The 2024 tax rate bylaw received first reading on April 9 and was then referred to the committee for further consideration.
Assessment notices were issued to all property owners on Feb. 22, with the appeal period ending April 30.
Overall, taxable assessment values in town have increased in 2024, with residential and farm land assessment value increasing 5.73 per cent, non-residential 4.44 per cent, and designated industrial property 5.66 per cent.
In Didsbury, approximately 87.6 per cent of assessment is from residential or farmland and the remaining 12.4 per cent is from non-residential properties.
The 2024 operating budget calls for a 2.32 per cent increase to revenues from taxes.
The education property tax requisition for 2024 is $1.82 million, an increase of nine per cent from 2023.
The Mountain View Seniors Housing requisition in 2024 is $266,373, an increase of five per cent.
The designated industrial property requisition for 2024 is $705, an increase of 8.5 per cent.
Following second reading, the proposed 2024 tax rate bylaw was forwarded to the financial planning committee for further review.
Committee chair Coun. Dorothy Morse told council the review will take place after the Apr. 30 deadline for assessment appeals.
The tax rate bylaw could come back for possible third reading at the first council meeting on May 14.
