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BYLAW 130-25
A BYLAW TO AUTHORIZE THE RATES OF TAXATION TO BE LEVIED AGAINST
ASSESSABLE PROPERTY WITHIN THE SUMMER VILLAGE OF ISLAND LAKE SOUTH
FOR THE 2025 TAXATION YEAR.
WHEREAS the Summer Village of Island Lake South has prepared and adopted detailed
estimates of the municipal revenue and expenditures as required, at the council meeting held
on April 28, 2025; and
WHEREAS the estimated municipal expenditures and transfers set out in the budget for the
Summer Village of Island Lake South for 2025 total $221,314 and
WHEREAS the estimated municipal revenues and transfers from all sources other than taxation
is estimated at $134,853 and the balance of $86,461 is to be raised by general municipal
taxation, and
WHEREAS the requisitions are:
Landfill
$ 17,462
Alberta School Foundation Fund (ASFF)
Residential/Farmland
$ 91,599
Non-residential
$ 456
Senior Foundation
$ 4,689
Designated Industrial (Non-residential)
$ 8
WHEREAS the council of the Summer Village of Island Lake South is required each year to levy
on the assessed value of all property tax rates sufficient to meet the estimated expenditures
and the requisitions; and
WHEREAS the council is authorized to sub-classify assessed property, and to establish different
rates of taxation in respect to each class of property, subject to the Municipal Government Act,
Chapter M26, Revised Statutes of Alberta, 2000; and
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WHEREAS the taxable assessed value of all property in the Summer Village of Island Lake South
as shown on the assessment roll is:
PROPERTY CLASS
ASSESSMENT
Residential
$ 35,178,150
Non-residential
120,030
TOTAL TAXABLE ASSESSMENT
$ 35,298,180
NOW THEREFORE under the authority of the Municipal Government Act, the council of the
Summer Village of Island Lake South, in the Province of Alberta, enacts as follows:
1.
That the Chief Administrative Officer is hereby authorized to levy the following rates of
taxation on the taxable assessed value of all property as shown on the assessment roll of
the Summer Village of Island Lake South:
GENERAL MUNICIPAL TAXES
TAX LEVY ASSESSMENT TAX RATE
Residential
$ 86,167
$ 35,178,150
2.4358
Non-Residential
$ 294
120,030
2.4358
$ 85,980
LANDFILL TAXES
Residential
$ 17,403
$ 35,178,150
0.4947
Non-residential
$ 59
120,030
0.4947
$ 17,462
ALBERTA SCHOOL
FOUNDATION FUND
Residential
$ 91,599
$ 35,178,150
2.6039
Non-residential
$ 456
120,030
3.7984
$ 92,055
GREATER NORTH
SENIORS FOUNDATION
Residential
$ 4,673
$ 35,178,150
0.1328
Non-Residential
$ 16
120,030
0.1328
$ 4,689
DESIGNATED INDUSTRIAL
Residential
$ -
$ 35,178,150
-
Non-Residential
$ 8
120,030
0.0701
$ 8
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2.
That the minimum amount payable per parcel as property tax for general municipal
purposes shall be $500.
3.
That this bylaw shall take effect on the date of the third and final reading.
Read a first time this 28th day of April, 2025.
Read a second time this 28th day of April, 2025.
Consent to proceed to third reading this 28th day of April, 2025.
Read a third time and finally passed this 28th day of April, 2025.
___________________________________
_____________________________
Mayor
Chief Administrative Officer