Town passes 2023 property tax bylaw

By Trevor Busch

Taber Times

editor@tabertimes.com

The Town of Taber has passed its property tax mill rates for 2023.

At the May 11 special meeting, council voted unanimously to pass third and final reading of Property Tax Rate Bylaw 9-2023. In a series of follow-up motions, council also voted unanimously to pass third and final reading of Supplementary Property Tax Rate Bylaw 10-2023.

The main mill rates for Taber for 2023 are 8.1857 (residential and farmland) and 12.8476 (non-residential).

The mill rate is based on ‘mills’; as each mill is one-thousandth of a currency unit, one mill is equivalent to one-tenth of a cent or $0.001. Property tax in dollar terms is calculated by multiplying the assessed property value and the mill rate and dividing by 1,000.

Total operating expenditures come in at $28,823,327, of which some $10,930,587 will be raised through general municipal taxes.

Requisitions for the Alberta School Foundation Fund and Holy Spirit RCSCRD #4 amount to $2,994,274, while allocations for the Senior Foundation are $147,114. A DIP requisition comes to $1,811.

The assessed value of all taxable property in Taber is $1,154,565,150.