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MD of Bighorn sets tax rate for the year

“For every dollar of residential, we get about $3.75 for non-residential. That keeps us in a healthy balance. We are maintaining a good ratio I feel for non-residential to residential as far as the collection of the tax base.”
MD of Bighorn office 2
MD of Bighorn Office EVAN BUHLER RMO PHOTO

MD OF BIGHORN – For the past four years, the residential and non-residential tax rates for the MD of Bighorn have remained mostly consistent.

That trend will continue as the Municipal District of Bighorn approved a slight decrease in the tax rate at its most recent council meeting.

The tax rate remained the same from 2018 to 2020 and was lowered slightly in 2021. For 2022, it will see another slight decrease.

“For the past four years, we have had a fairly consistent mill rate,” said Shaina Tutt, the director of finance for the MD.

On March 22, the finance and development committee recommended the residential and farmland tax rate be set at .001779412, while the non-residential rate was set at .006747433. The mill rate is set at 1.779412 for residential and farmland, and 6.747433 for non-residential. This will allow the MD to collect $6.54 million in tax requirements as was approved in the 2022 operating budget. That tax requirement is an increase of 2.89 per cent from 2021.

Within the MD of Bighorn, there are several components to the overall tax rate. The general municipal rate, which is set by the MD, provides funds for projects and to run operations. The school tax rate, designation industrial property tax and municipal policing tax all come from the province. The senior foundation rate comes from Bow Valley Regional Housing.

“The majority of the tax notice is requisitions we collect on behalf of other governing bodies,” said Tutt.

There is also a difference between property values and the mill rate.

“As we see property values increase, assessment values go up,” Tutt said. “Even though mill rates stay consistent. If your assessment goes up $100,000, you’ll see an increase in your taxes that are due to the municipality.”

Under the Municipal Government Act, no municipality, other than a non-conforming municipality, can have a tax ratio greater than five-to-one. Currently, the MD of Bighorn has a ratio of 3.75-to-one.

“For every dollar of residential, we get about $3.75 for non-residential,” Tutt said. “That keeps us in a healthy balance. We are maintaining a good ratio I feel for non-residential to residential as far as the collection of the tax base.”