Red Deer property tax rates approved by City Council

Red Deer City Council approved the annual property tax rate bylaw at their regular meeting today (Monday).

City Council is required to pass a tax rate bylaw when a property tax requirement has been approved in the operating budget. The bylaw also sets tax rates for requisitions The City collects on behalf of Alberta Education and Bridges Community Living.

The City’s budget was set by City Council in December with a 4.61 per cent tax increase. When combined with requisitions The City must collect on behalf of other organizations, the actual tax increase is 2.46 per cent for residential and non-residential properties. Multi-family properties will see a tax increase of 6.64 per cent.

“We are pleased to be able to offer Red Deerians a lower than anticipated tax increase this year,” said Mayor Ken Johnston. “We know the economy is a challenge right now, so seeing this decrease, while also being able to offer the same high-quality services to our community, is a very welcome change.”

The tax increase means a typical house assessed at $345,000 will pay $6.79 per month more in total property tax. This brings the total annual tax bill to $3,388 from $3,306 in 2022, which is an increase of $81.48 annually.

The deadline for payment of 2023 property taxes is June 30. Any unpaid taxes are subject to a six per cent penalty, lowered from the historical seven per cent. Penalties are applied to current year unpaid taxes on July 1 and September 1, and on taxes in arrears on January 1 and July 1. This is the last year of lowered penalty rates that were provided to support recovery from the impacts of the pandemic.

“Taxes are collected annually to fund municipal services, infrastructure maintenance and amenities that support and enhance our community,” said Joanne Parkin, Revenue and Assessment Manager. “We encourage anyone who may not be able to pay their taxes by the deadline to pay as much as they can to reduce penalties, and to reach out to our office to discuss payment options,”

Tax notices will be mailed May 23, 2023. Property owners can sign up by May 1 via MyCity (reddeer.ca/mycity) to receive their property tax notice electronically. Notices will be distributed by mail if electronic notification is not selected.