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## VILLAGE OF KITSCOTY TAX RATE BYLAW BYLAW NO. 2025-03
## A BYLAW TO AUTHORIZE THE RATES OF TAXATION TO BE LEVIED AGAINST ASSESSABLE PROPERTY WITHIN THE VILLAGE OF KITSCOTY FOR THE 2025 TAXATION YEAR.
WHEREAS the Village of Kitscoty has prepared and adopted detailed estimates of municipal revenue, expenses and expenditures as required, at the Council Meeting held on April 7, 2025; and
WHEREAS the estimated municipal revenues from all sources other than property taxation total $1,236,769; and
WHEREAS the estimated amount required to repay principal debt to be raised by general municipal taxation is $O; and
WHEREAS the estimated amount required for current year capital expenditure to be raised by general municipal taxation is $0; and
WHEREAS the estimated amount required for future financial plans to be raised by municipal taxation is $100,000; and
WHEREAS the estimated municipal expenses (excluding non-cash items) set out in the annual budget for the Village of Kitscoty for 2024 total $2,364,329; and
THEREFORE the total amount to be raised by general municipal taxation is $1,127,560; and
WHEREAS the requisitions are:
Alberta School Foundation Fund (ASFF)
Residential & Farmland
Non-Residential
Total School Requisition
$223,850
$ 29,034
$252,884
Designated Industrial (DI) Property Tax
$ 157.75
WHEREAS the council is authorized to classify assessed property, and to establish different rates of taxation in respect to each class of property, subject to the Municipal Government Act, Chapter M-26, Revised Statues of Alberta, 2000; and
WHEREAS the assessed value of all property in the Village of Kitscoty as shown on the assessment roll is:
Residential
Non-Residential
Machinery & Equipment
Total Assessment
$81,324,070
$ 7,793,320
156,330
$89,723,720
NOW THEREFORE under the authority of the Municipal Government Act, the Council of the Village of Kitscoty, 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 assessed value of all property as shown on the assessment roll of the Village of Kitscoty:
| | Tax Levy | Assessment | Tax Rate |
|--------------------------------|-------------|--------------|------------|
| Residential & Farmland | $729,222.00 | $81,324,070 | 0.008966 |
| Non-Residential Inc. Linear | $142,440.00 | $ 7,793,320 | 0.018277 |
| Machinery & Equipment | $ 2,857.00 | $ 156,330 | 0.018277 |
| Totals: | $874,519.00 | $89,273,720 | |
| ASFF (Residential & Farmland) | $223,850.06 | $81,263,720 | 0.002750 |
| ASFF (Non-Residential) | $ 29,034,18 | $7,793,320 | 0.003724 |
| Totals: | $252,884.24 | $89,057,040 | |
| Designated Industrial | | | |
| (Non-Residential) | 10.50 | 149,790 | 0.0000701 |
| Designated Industrial (Linear) | 139.16 | $ 1,985,180 | 0.0000701 |
| Designated Industrial (M&E) | 8.09 | $ 115,380 | 0.0000701 |
| Totals: | $ 157.75 | $ 2,250,350 | |
## Grand Total Taxation:
$1,127,560.99
2. That the minimum amount payable per parcel as property tax for general municipal purposes shall be $650.00.
3. Should any provision of this bylaw be determined to be invalid, then such provisions shall be severed, and the remaining bylaw shall be maintained.
4. This bylaw comes into force and effect on the final date of passing thereof and signed by the Mayor and Chief Administrative Officer.
READ a first time on this 22nd day of April 2025. READ a second time on this 22'° day of April 22, 2025. Given UNANIMOUS consent to present for the third reading on this 22d day of April, 2025.
READ a third and final time on this 22'° day of April, 2025.
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