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During the Regular Meeting of Council on May 4, 2022, Town Council passed Mill Rate Bylaw 2022/05/F, setting the tax rate for 2022. The adoption of this mill rate will support the 2022 Capital and Operating Budgets passed in December 2021, and February 2022 respectively. As part of a new budget process, Council held a strategic planning session to identify priorities and determine the capital project list for 2022. This new approach helped minimize repetition in the budget process and ensure that the budget aligned with the strategic direction of Mayor and Council.
The Final Capital Budget, which was passed in December 2021, includes projects such as a slide and bouldering wall for the new Aquatic Facility, replacement of sidewalks and trails that are in need of repair, upgrades to the audio/visual equipment at the MacKenzie Conference Centre and the Clean Energy Technology Centre, expanding the landfill to meet future needs, expansion of the Meraw storm pond, and a new Command Truck for the Fire Department.
To ensure residents continue to benefit from a high quality of life, and receive expected service delivery levels, Town Council passed a tax rate that would see the Town’s revenues increase by 2.5%. While the Town is increasing its revenues by 2.5% to meet the capital and operational needs of the community, the average taxpayer will only see a 1.14% increase in municipal taxes due to increases in property assessments. It was important to Council that the tax rate be kept as low as possible to minimize the impact to resident’s while being mindful of the necessary revenues required to plan appropriately for the future and allow Administration to continue with regular operations and scheduled maintenance.
“With the new year in full swing, I’m excited about the progress being made in our community!” said Mayor Nancy Dodds. “Great strides are being made in both social and economic avenues, and I see Drayton Valley being set up for huge success. While the last few years have been hard, I continue to look to the future and feel immense pride at the foundation we’re building.”
To view the full press release for the Millrate Bylaw, click here.
To view the February 2022 Press Release for the Final Operating Budget, click here.
Watch our short video on the 2022 Interim Budget and Final Capital Budget from Mayor Nancy Dodds!
View the 2022 Budget infographic here.
The Town budget is made up of two components:
The capital budget represents a finite amount of money to be invested in specific projects
The operating budget is where the money to keep programs and services running on an on-going basis is represented.
Your Tax Bill is made up of three components
Did you know…..approximately 33% of your municipal tax bill goes directly to other agencies
The municipal portion of property taxes collected goes toward funding the services and amenities that help make Drayton Valley a great place to live, work, and play.
Municipal tax rates are determined by the programs, services, and infrastructure needs of residents and businesses. Tax Rates are applied to the assessed value of properties within the municipalities.
Education Property Tax
Every year the province calculates, based on assessment value, the amount each municipality must contribute towards the public education system. Municipalities collect the education property tax from rate payers and then forward it to the province for a deposit into the Alberta School Foundation Fund.
Brazeau Seniors Foundation
The Town receives a requisition from the Brazeau Seniors Foundation which provides affordable seniors housing. Under the Alberta Housing Act, the Town is required to collect these funds from the municipality property owners, similar to the education requisition.