Clearwater County Council has passed the 2024 Tax Rate Bylaw it says demonstrates a proactive approach to address inflationary pressures while maintaining a one per cent tax rate increase across all assessment classes.

Officials say administration’s preparation of the first draft of the annual Tax Rate Bylaw for the 2024 tax year provided critical insights into the County’s financial landscape, highlighting the need for prudent fiscal management amidst rising inflationary pressures and an ambitious list of capital projects.

The County says residents will see three requisitions on their property tax notices, it says are carefully calibrated to meet the evolving needs of residents and businesses:

• Provincial School Tax Requisition: Reflecting an increase of $1,324,579 or 7.5 per cent, driven primarily by the growth in the equalized assessment base from 2021 to 2022. Spreading this increase over the subsequent increase in 2023’s assessment base provides residential properties a decrease of 0.2 per cent.

• Municipal Tax Requisition: A one percent municipal tax rate increase across all assessment classes.

• Seniors Foundation Tax Requisition: The Seniors Foundation Tax Requisition from the West View Lodge has increased by $306,952 or 33.4 per cent, totaling $1,226,150, with allocations for operations and capital reserves.

“Clearwater County Council is committed to managing finances responsibly,” said Michelle Swanson, Reeve of Clearwater County. “Limiting the tax rate increase to just one percent shows our dedication to supporting our residents and maintaining our community’s economic strength.”

Additionally, the County says its change in assessment base contributed an additional $2,593,585 in tax revenue over the 2023 budget, excluding the 1 per cent tax rate increase included in the tax rate bylaw.

Officials say this additional base is divided into inflation and growth categories, generating additional revenue of approximately $900,000 and $1.7 million, respectively. It adds the majority of the growth revenue is industrial or non-residential projects happening in the county.

A budget adjustment will be made to tax revenue and contingency for the additional tax revenue.

Property tax notices will be mailed out before the end of May, with payments due upon receipt.

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