Wetaskiwin homeowners should see no increases to their 2021 property taxes, and in fact, could see a slight decrease in their tax bill.
The City’s proposed 2021 budget included an estimated increase in tax revenue attributed to physical assessment growth of one per cent – equivalent to $158,811.
Following budget deliberations and the approval of the 2021 budget in March 2021, Council approved the 2021 Tax Rate Bylaw confirming zero increase in the total taxes collected after considering the additional revenues generated from growth.
As there was an overall decrease in the total assessed property values within the City, the increase in tax rates resulted in the average home paying $7.83 less toward the municipal levy compared to last year.
Here’s what that looks like:
The average assessed value of a Wetaskiwin residential property decreased from $245,940 in 2020 to $238,000 in 2021 – a reduction of three per cent. This decrease is consistent with other comparable communities which experienced a reduction in assessed values between two and three per cent.
The approved tax rate – when multiplied by the assessed value of an average residential property – results in a slight decrease in the 2021 property taxes.
“Council and Administration are committed to finding efficiencies while still ensuring we maintain our level of service,” said Wetaskiwin Mayor Tyler Gandam. “We will continue to engage our residents and business owners – not just leading into budget deliberations. Your input is important and helps Council understand what the needs in the community are.”
Payment due June 30
City of Wetaskiwin 2021 Property Assessment Notices were mailed out to all property owners March 12, and the deadline to submit a complaint or appeal of a 2021 property assessment is May 21. Visit wetaskiwin.ca/assessment for more information.
Property Tax Notices will be mailed to property owners by the end of May 2021, with payment due by June 30, 2021. The property tax notice will include levies for municipal purposes, school and senior foundation requisitions. The Tax Penalty Bylaw 1958-20 – currently in effect – outlines penalties applied on current outstanding taxes as follows:
- July 1, 2021 – A penalty of 9 per cent of any unpaid current tax levy will be applied.
- Oct. 1, 2021 – A penalty of 6 per cent of any unpaid current tax levy will be applied.
- Jan. 1, 2022 – A penalty of 15 per cent of any unpaid tax balance will be applied.
Visit the Taxation & Assessment page on the City of Wetaskiwin website for more information.