The City of Wetaskiwin approved the 2022 Tax Rate Bylaw 2016-22 at the regular May 24, 2022, council meeting following budget deliberations and the finalization of the 2022 municipal budget earlier this year.
The 2022 Tax Rate Bylaw includes a net municipal tax rate increase of 3.23 per cent for residential properties and an increase of 3.35 per cent for non-residential properties.
The city states the total finalized assessment in 2022 for taxable, grant-in-lieu and municipal properties is $1,333,038,920. This is an increase in assessment from 2021 which was $17,389,260.
“Council has worked hard to keep our municipal taxes as low as possible,” said Mayor Tyler Gandam.
“Changes to the RCMP contract significantly contributed to this year’s increase. While adjusting to level of service changes can sometimes be difficult, please know council will continue monitoring how changes made impact the community.”
The overall increase in assessment this year can be attributed to growth in farmland, non-residential, non-residential designated industrial, non-residential linear, and residential properties.
For farmland the city states there was a decrease due to growth and inflation of $282,790 which is mostly due to the change in farmland to market value for a few parcels.
There was a growth of $896,680 in non-residential properties due to new development and inflation of $8,091,140 resulting in an overall increase of $8,987,820. There was a growth of $9,530 for non-residential designated industrial property and a growth of $662,020 for non-residential linear properties.
For residential properties there was a growth of $6,222,610 and inflation of $1,837,010. The city says both increases were heavily influenced by new construction and inflation in multi-family residentials.
Property tax notices for Wetaskiwin residents have been mailed out and payment is due by June 30, 2022.