Council gave first reading to the 2011 Mill Rate Bylaw at the Governance and Priorities Committee meeting last week, which would allow for a zero per cent mill rate increase for 2011.
This year, the Crowsnest Pass will see a residential mill rate of 5.7, and a non-residential mill rate of 10.3, both of which remain unchanged from 2010.
“This year, we will be maintaining a similar mill rate as we have historically, and operating within the budget,” said Director of Finance and Systems Marion Vanoni.
She said the overall linear assessment is based on market values from June 2010 and infrastructure assessment.
Municipal Tax Assessor Glen Snelgrove said the 2:1 ratio of non-residential to residential mill rate value is relatively low compared to other communities such as Lethbridge and Calgary, which have 4:1 and 5:1 ratios, respectively.
While the residential and non-residential mill rate remains the same, there would be changes to the mill rate for the Crowsnest Pass Senior’s Housing Authority Operating Requisition and the Alberta School Foundation Fund (ASFF) Requisition.
The ASFF requisition would see an increase of $175,209, amounting to a total of $2,542,134, which will be paid to the province in quarterly instalments.