Three per cent. That's how much the mill rate that sets Drumheller property taxes will go up this year.
On Monday, Town Council affirmed Bylaw 05-18 as presented by administration.
"When we talk about three per cent, it was a three per cent increase to the municiple (portion of the) budget." noted Barb Miller, Director of Corporate Services.
"If your house was assessed at $250,000 last year and your house was assessed at 270 this year, you're going to see an increase a lot greater than three per cent on your bill because your assessed value went up," outlined Miller.
The ASFF, Alberta School Foundation Fund, or the education part of your property taxes, goes up by 1.44 per cent this year.
"The provinical goverment calculates the amount of taxes that need to be recovered from our comuunity to fund the school education," explained Miller. "The base of the mill rate that they determine is based on all the assessments within the entire province and then they equalize those assessments."
If your home depreciated in value, your property taxes could go up by less than three per cent. Your tax bill also includes the Drumheller Seniors Foundation, which looks after the lodges and seniors manors in the valley and surrounding villages.
All told, a home with an assessed value of $200,000 will see the tax bill increase by about $77 or about $6.50 per month.