Ratepayers in the MD of Bighorn can expect to see the municipal portion of their taxes go up four per cent over last year.
Council authorized an $83,500 withdrawal from the tax rate stabilization fund Tuesday (May 13) to keep the increase at four per cent.
According to a report prepared by Shaina Carvelli, director of finance, the MD expects estimated municipal revenues of $13.5 million and municipal expenses of $17.5 million, leaving the balance to be raised from property taxes at $2.9 million. Capital expenditures are estimated at $371,340
The total assessed value of all properties in the MD is $905 million. The requisition for the Alberta School Foundation Fund is a total of $1.9 million with opted-out school boards at $37,853. The seniors foundation, meanwhile, accounts for a requisition of $157,692.
Carvelli said last year $82,820 went into the tax rate stabilization fund. Most of that, $68,000 came in from well-drilling tax, and the rest was from investments.
