2016 Tax Rate Bylaw Approved By Olds Council

The average single family dwelling in Olds with an assessment value of about $318,000 will see a total tax increase of approximately 99 dollars this year.

A tax rate DECREASE of three-quarters of a per cent from last year has been approved for 2016 by Olds town council.
 
The town's Chief Financial Officer, Garth Lucas, says council has considered the base level tax rate to be the 2013 tax rate.
 
 
Lucas adds, the tax rate that council sets is just for the taxes for municipal purposes but the town also has the responsibility of collecting taxes for both Mountain View Seniors Housing and Alberta Education.
 
 
Lucas explains how the 2016 tax rate will impact the average single family dwelling in Olds.
 
 
He says the requisition for Mountain View Seniors Housing went up just a little bit, while Alberta's Education requisition climbed by about three-point-six per cent.
 
According to Lucas, those will both have some impact on the taxes above and beyond what the municipal increase will be.

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