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Coaldale council approves residential and non-residential property tax increase
Residents in Coaldale are set to see a property tax increase.
At its May 22, 2024 meeting, town council passed second and third reading of the 2024 Property Tax Bylaw.
The bylaw approves a 4.13 per cent total increase in residential and non-residential property taxes, but the Town says it does so on the basis of a 5.2 per cent decrease in the residential mill rate and a 2.5 per cent decrease in the non-residential mill rate.
Officials say the decreases in the Town’s mill rates were approved to help offset increased costs associated with inflationary growth in both residential and non-residential property values.