Innisfail Town Council on Monday approved the Town’s 2019 Property Tax Rate Bylaw, which sees a slight increase from 2018 municipal residential mill rates. Residential property bills will most likely reflect a minor increase, if any, depending on their 2019 assessment value.
A 1.0 per cent residential rate increase was approved by council during 2019 budget deliberations. This was later adjusted to 1.5 per cent to offset lower than anticipated property value assessments, which were calculated after deliberations had closed.
“We’ve worked hard to keep residential tax rates relatively stable,” said Mayor Jim Romane. “Despite the difficult economic conditions we’re facing, we’ve been able to minimize the impact on our residents.”
As an example, the average residential home assessed at $332,994 will see a $12.11 increase annually.
Commercial mill rates will see the 1.0 per cent increase as proposed in the budget, and school taxes will not increase from 2018 rates.
Mill Rates 2018 2019
Residential 6.5111 6.6088
Non-Residential 8.0739 8.1546
Machinery & Equipment 8.0739 8.1546
School – Residential 2.6154 2.6154
School-Non-Residential 3.7534 3.7534
Senior Foundation .0195 .0195
Taxes must be paid on or before June 30.