Red Deer County Council approved the 2020 Tax Rate Bylaw, as well as a program that both defers and reduces 2020 tax penalties on Tues. May 12.
Due to the ongoing impact of the COVID-19 pandemic, council has decided on a two per cent overall decrease on taxation from 2019.
This decision comes despite collecting approximately $100M less in the overall assessment.
“This is a very stressful time for a large number of Albertans,” said Mayor Jim Wood. “We are doing our best to ensure that municipal taxes will not create a burden on our residents and business owners.”
At the same meeting, council approved a program that will defer penalty charges until October 1 instead of the usual July 1.
The bylaw also reduces the penalty rate from six per cent to four per cent for the 2020 taxation year only.
The farmland tax rate is set at 7.9460 per cent. Residential is at 2.6816 while non-residential is at 10.9465 per cent.
An environmental levy was proposed for 2020, but has been withdrawn to create almost one million dollars in further tax savings.
Council is once again implementing a minimum tax levy of $25.
provincial order, the assessment complaint filing deadline has been extended to July 1 from April 20.
The County is strongly encouraging those who are able to continue paying their taxes in full or in smaller partial payments.
No penalties will be assessed until Oct. 1.