Rocky View County Council Approves 3% Property Tax Decrease
Tuesday, April 28, 2020
Rocky View County Council has unanimously approved a budget that represents a 3% tax decrease for business and residential properties in the County.
“Given the challenges presented by COVID-19, and the impacts of historically low energy prices, Council wanted to make a substantial statement in our 2020 budget and property taxes. This is one way we can help every single one of our residents and businesses deal with the current situation,” said Reeve Greg Boehlke.
Council had originally planned for a 2% tax increase in 2020 to cover the costs of inflation. As a result of the 3% reduction, the original budget is essentially impacted by 5%, but Reeve Boehlke says the County’s strong financial situation allows for such a move.
“You very often hear talk about preparing for a ‘rainy day,’ and we’re there right now. Rocky View County has a long history of good financial management by Council and our administration, and that gives us the ability to make this unprecedented tax reduction,” Reeve Boehlke said.
Council also voted to delay the application of late-payment penalties on municipal property taxes and the Province’s education taxes. Property owners who are not on a monthly payment plan must normally pay their taxes in full by June 30 or face a 12% penalty. With Council’s decision, penalties will not be applied to 2020 property and education taxes until September 1.
“Our property tax reduction reduces costs for everyone, while delaying penalties can help some residents and business owners with temporary cash flow problems,” Reeve Boehlke said. “The economic well-being of Rocky View County residents and businesses is a priority during these unprecedented and disruptive times. These unanimous decisions show Council’s clear desire to play a strong role in our economic recovery.”
Council will approve the 2020 Tax Rate Bylaw at its May 12, 2020 meeting, which will allow the County to send property tax bills. While the overall average tax bill will drop by 3%, individual property taxes may go up or down by a different amount depending on any increases of decreases to the property’s assessed value.
Tax & Assessment