File photo of Civic Square in Coaldale. (Photo: LNN)

By Justin Goulet

Coaldale council approves residential and non-residential property tax increase

May 25, 2024 | 1:33 PM

Residents in Coaldale are set to see a property tax increase.

At its May 22, 2024 meeting, town council passed second and third reading of the 2024 Property Tax Bylaw.

The bylaw approves a 4.13 per cent total increase in residential and non-residential property taxes, but the Town says it does so on the basis of a 5.2 per cent decrease in the residential mill rate and a 2.5 per cent decrease in the non-residential mill rate.

Officials say the decreases in the Town’s mill rates were approved to help offset increased costs associated with inflationary growth in both residential and non-residential property values.

“As a council, our goal is to keep property taxes as affordable as possible to attract new residents and boost our commercial and industrial growth,” says mayor Jack Van Rijn.

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“So, when we learned about the substantial increase in property values and what that would mean for residential and non-residential tax bills, we decided to lower our residential and non-residential mill rates,” he adds.

“This way, we’ll be able to provide our residents and business owners with at least some financial relief from the effects of high inflation, which is making everything less affordable – including owning property.”

The Town says for the average residential property in Coaldale, taxes will go up by $138 per year or $11.50 per month, with almost two-thirds of this jump coming from provincial requisitions (downloaded onto Coaldale residents from the Government of Alberta) for education spending (approx. $82).

On average, residents will pay eight per cent less in annual municipal property taxes than those in the Town of Taber and nine per cent less than those in the City of Lethbridge, according to the Town of Coaldale.

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Officials say Coaldale’s non-residential tax rate comes in at 29 per cent lower than the Town of Taber’s and 54 per cent lower than the City of Lethbridge’s.

Cameron Mills, Coaldale’s Director of Growth and Investment, says council’s decision to reduce the mill rates again points to its commitment to avoid unnecessary tax increases.

“As the Town’s 2023 Comparative Analysis illustrates, council’s resolve to steer clear of needless tax increases isn’t a one-off and actually reflects a larger trend that goes back to at least 2019,” says Mills.