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## 2025 Property Tax Bylaw No. 445-25
## A BYLAW TO AUTHORIZE THE RATES OF TAXATION TO BE LEVIED AGAINST ASSESSABLE PROPERTY WITHIN THE VILLAGE OF MILO FOR THE 2025 TAXATION YEAR.
WHEREAS, the Village of Milo has prepared and adopted detailed estimates of municipal revenue, expenses and expenditures as required, at the council meeting held on May 08,2025; and
WHEREAS, the estimated municipal revenues from all sources other than property taxation total $482,992\_ and:
WHEREAS, the estimated municipal expenses (excluding non-cash items) set out in the annual budget for the Village of Milo totals $647,137 and the balance of $312,989 is to be raised by general municipal property taxation; and
WHEREAS, the estimated amount required to repay principal debt to be raised by general municipal taxation is \_ $13,616 and;
WHEREAS, the estimated amount required for current year capital expenditures to be raised by general municipal taxation is $40,000
WHEREAS, the estimated amount required for future financial plans to be raised by municipal taxation is \_; and
THEREFORE the total amount to be raised by general municipal taxation is \_$217,761\_ and
## WHEREAS, the requisitions are:
| Alberta School Foundation Fund - Residential & Farmland | Alberta School Foundation Fund - Residential & Farmland |
|-----------------------------------------------------------|-----------------------------------------------------------|
| | $29,740 |
| Non-residential | $14,627 |
| - Designated Industrial Property | $ 14 |
| - Seniors Foundation | $3980 |
WHEREAS, the council is authorized to sub-classify assessed property, and to establish different rates of taxation in respect to each sub-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 Milo as shown on the assessment roll is:
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| Residential & Farm land | $11,477,560 |
|---------------------------|---------------|
| Non-Residential | $4,018,490 |
| Linear | 200,530 |
| Machinery and Equipment | $15,080 |
| Total Assessment | $15,511,130 |
NOW THEREFORE under the authority of the Municipal Government Act, the Council of the Village of Milo, 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
| | | Tax Levy Assessment | Tax Rate |
|------------------------------------------|----------|-----------------------|------------|
| General Municipal | | | |
| Residential & Farmland | $159,193 | $11,477,560 | 0.01387 |
| Non-Residential &Machinery and Equipment | $58,567 | $4,033,570 | 0.01452 |
| IOTALS | $217.760 | $15,511,130 | |
| Alberta School Foundation Fund | | | |
| Residential & Farmland: | $29,740 | $10,933,694 | 2.72% |
| Non-residential: | $14,627 | $3,656,842 | 4.00% |
| Totals: | $44,367 | $14,590,536 | |
| Designated Industrial Property | $14.06 | $200,530 | 00701% |
| Seniors Foundation | $3,983 | $14,605,685 | 000273% |
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2. That the minimum amount payable per parcel as property tax for general municipal purposes shall be $500.00
3. This bylaw comes into force at the beginning of the day that it is passed unless otherwise provided for in the MGA or another enactment or in the bylaw. This bylaw is passed when it receives third reading and it is signed in accordance with S.213 of the MGA.
READ a first time on this12th, day of May , 2025.
READ a second time on this 12" day of May, 2025.
Given UNAMIMOUS consent to go to third reading on this
12'h, day of May, 2025
READ a third and final time on this 12th ~ day of May, 2025.
Signed this 12th, \_ day of May, 2025.
Chief Etected Official