Lacombe, Alberta (May 10, 2021) – Lacombe City Council approved the 2021 Property Tax Rate Bylaw 489 at 0.8 percent – approximately half of the Alberta Consumer Price Index (CPI).
The Municipal Government Act requires the City to adopt an annual tax rate bylaw, and keeping tax rate increases below inflation is a Council strategic goal.
“I am pleased to see Council has delivered on our goal to keep municipal taxes on or below inflation,” Mayor Grant Creasey said. “It is important the City keep economic disruptions to a minimum while our residents deal with unprecedented economic challenges.”
Using an example of a home assessed at $275,000 in 2020, a homeowner would pay $2,940 in municipal taxes, equalling a monthly increase of $1.37 from last year.
Using a non-residential property, with an example value of $525,000, and applying the same process, would see a total of $6,804 in municipal taxes, equal to a monthly increase of $8.16.
In addition to levying municipal property taxes, Bylaw 489 also establishes levies on behalf of the Lacombe Foundation, the Alberta School Foundation Fund (ASFF), and the St. Thomas Aquinas RCS Regional Division No.38.
In 2021, Bylaw 489 is expected to generate a combined $20.49 million in tax revenue, comprised of the following:
- Municipal Revenue – $15,327,972
- Provincial School Foundation – $4,903,835
- St. Thomas Aquinas RCSRD – $142,080
- Lacombe Foundation Requisition – $111,804
- Designated Industrial Requisition – $1,339
- Total – $20,487,030
For additional information, contact:
Communications and Community Engagement Coordinator