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Municipal tax rates determined

Posted on May 12, 2016 by Westwind Weekly

By Lorena Rodgers
Westwind Weekly News

Magrath, Raymond and Stirling have passed their tax bylaws for 2016. The Town of Magrath passed their tax bylaw for the 2016 budget at town council meeting Tuesday.
The residential and farmland mill rate combines the general municipal rate of 7.31518 plus 2.46332 for the Alberta School Foundation Fund and 0.20131 for the Chinook Foundation. This gives a mill rate of 9.9798.
This means that if your residential property is assessed at $250,000 your 2016 property tax will be $2,494.95 (assessed value x mill rate/1,000).
The commercial mill rate is 16.8422.
The minimum amount payable as property tax for general municipal purposes is $275 on vacant property and $450 on improved property.
Tax notices come out in May and are due at the end of June.
Raymond passed their tax bylaw last week.
The residential and farmland rate is 7.5, Alberta School Foundation Fund is 2.4805 and Senior Foundation Fund is 0.34226, making the residential mill rate 10.32726.
This means a residential property in Raymond assessed at $250,000 will have a property tax amount of $2,581.82.
The non-residential rate in Raymond is 15.882
The minimum amount payable in Raymond for improved properties as property tax for general municipal purposes is $1,000 while the minimum vacant property tax for general municipal purposes is $800. The minimum amount payable for each unit within the Designated Manufactured Home Community as property tax for general municipal purposes shall be $400.
Property taxes not paid to the Town of Raymond by closing time July 15, 2016 will receive a 12% penalty with 1.5% added each month it is unpaid as of August 1, 2016.
Stirling Council also passed its tax bylaw last week.
The residential and farmland rate is 7.75, Alberta School Foundation Fund is 2.4596 and Senior Foundation Fund is 0.3412, making the residential mill rate 10.5508.
This means a residential property in Stirling assessed at $250,000 will have a property tax amount of $2,637.70.
The non-residential rate in Stirling is 11.7516.
The minimum amount payable in Stirling for improved properties as property tax for general municipal purposes is $950 while the minimum vacant property tax for general municipal purposes is $500.
Property taxes not paid to the Village of Stirling by closing time June 30, 2016 will receive a 10% penalty with 2% added each month it is unpaid as of August 1, 2016.

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