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Property Tax Rates Could Change for Urban and Rural Areas

Fort McMurray, AB, Canada / MIX 103.7
Property Tax Rates Could Change for Urban and Rural Areas

Construction in Wood Buffalo, Spring 2017 // Harvard Broadcasting Reporter Jaryn Vecchio

Rural homes could be seeing an increase in property taxes.
On Tuesday, council will discuss the 2017 tax rate bylaw.

Included in administration’s report is an 11.1 per cent increase in property education taxes for residential properties and a 10.1 per cent increase for non-residential.

This comes after a loss of $51.4 million in budgeted tax revenue for the RMWB. However, the municipality is also expected to add an additional $40 million with the start of a new facility in the oil industry.

Meanwhile, the increased tax rate could translate to an increase of $49.00 on average for rural homeowners over 2017. As for urban homeowners, they could save around $118.00 this year on average.

Rural commercial properties, on the other hand, could be saving around $711.00 for 2017 after a decrease in municipal property taxes with the recent tax relief for homes destroyed or irreparably damaged by the wildfire.

All properties in the region, including industry, are either seeing the same municipal property taxes from last year or a reduced rate.

Council will discuss these numbers among other topics including a possible lease for a new Fort McKay Fire Hall and the repealing of the Wood Buffalo Recovery Committee.

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