Raymond Tax Rate Bylaw passes first reading

Posted on May 23, 2024 by admin

By Heather Cemeron
Westwind Weekly News

During the May 7 Town of Raymond Council Meeting, Council discussed giving first reading to Bylaw No. 1136-24 2024 Tax Rate Bylaw, which is a bylaw to authorize the rates of taxation to be levied against assessable property within the Town of Raymond  for the 2024 taxation year. 

Council discussed how the Town of Raymond has prepared and adopted detailed estimates of the municipal revenues and expenditures for 2024 at the Council meeting held on May 7 with the estimated municipal expenditures and transfers set out in the budget for the Town of Raymond for 2024 totalling $16,959,905; and the estimated municipal revenues and transfers from all sources other than taxation is estimated at $13,244,281 and the balance of $3,715,624 to be raised by general municipal taxation. 

Council also says that the requisitions are:

Alberta School Foundation Fund (ASFF) 

Residential/Farmland – $982,980

Opted Out School Boards Residential/Farmland – $9,916 

Total Residential/Farmland – $992,896

Alberta School Foundation Fund (ASFF) 

Non-residential – $107,099 

Opted Out School Boards 

Non-residential – $896 

Total 

Non-residential – $107,995 

Senior Foundation – $115,310 

Designated Industrial Property – $403

Council also highlighted that Bylaw No. 1136-24 showed the assessed property in the Town of Raymond shown on the assessment roll is as follows:

Assessment Residential & Farmland – $418,801,800 

Non-residential – $24,044,680 

Linear – $5,192,880 

Designated Industrial Property – $9,750 

Machinery & Equipment – $69,990 

Total – $448,119,100

Council also touched upon that Bylaw No. 1136-24 highlighs that the Chief Administrative Officer is hereby authorized to levy the following rates of taxation on the assessed value of all property as shown on the assessment roll of the Town of Raymond.

Residential & Farmland

Tax Levy – $3,348,785

Assessment – 418,801,800

Tax Rate – 7.99611

Non-Residential

Tax Levy – $365,963

Assessment – 29,247,310

Tax Rate – 12.51269

Machinery and Equipment

Tax Levy – $876

Assessment – $69,990

Tax Rate – 12.51269

Alberta School Foundation Fund & Opted Out School Boards

Residential and Farmland

Tax Levy – $992,896

Assessment – $418,801,800

Tax Rate – 2.3708

Non-residential

Tax levy – $107,995

Assessment – 29,247,310

Tax Rate – 3.6925

ASFF Totals 

Tax Levy – $1,100,891

Assessment – 448,158,340

Senior Foundation

Tax Levy – $115,310

Assessment – $448,119,100

Tax Rate – 0.25732

Designated Industrial Property

Tax Rate – $403

Assessment – 5,272,620

Tax Rate – 0.007650

Council stated that Bylaw No. 1136-24 emphasizes that the minimum amount payable for improved properties as property tax for general municipal purposes shall be $1,150 and the minimum amount payable for vacant properties for general municipal purposes shall be $1,150 and the minimum amount payable for units within a Designated Manufactured Home Community as property tax for general municipal purposes shall be $700.

Finally, Council said that Bylaw No. 1136-24 includes the following statements: if at closing time of the Town Office on July 15, 2024, any taxes which remain unpaid shall receive a 12 per cent penalty on 16th day of July 2024, and 1.5 per cent penalty will be imposed on the unpaid balance on the first day of each month thereafter, starting August 1, 2024.

Council said that they were just looking for first reading on Bylaw 1136-24, and first reading will allow them to advertise the audit and finance information and Finance will have further discussion about it.

A motion on Bylaw No. 1136-24 2024 Tax Rate Bylaw was made and carried.