By Dori Modney (@Dori_Modney on Twitter)

2016 Property Tax Rate Approved by City Council

May 2, 2016 | 3:19 PM

LETHBRIDGE: The Property tax rate increase for 2016 will see a typical single-family home owner shelling out an additional $5.50 a month.

On Monday afternoon, City Council gave the nod to an overall average increase of 2.5 per cent for single homes values at $260,000.

Multi-family properties will see an increase of 3-per cent, while commercial and industrial properties will deal with an average increase of 3.8 per cent.

Property taxes are used to provide public services such as police and fire protection, road maintenance, public transit, parks, libraries and arts and recreation facilities. In addition, a portion of property taxes also support provincial education and seniors housing.

Tax payments can be made without penalty up to the end of business on Thursday, June 30th, 2016, or rate-payers can take advantage of an incentive discount by enrolling in the City’s monthly tax installment payment plan.

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In Council Chambers, Mayor Chris Spearman noted, “We know tax time brings questions from residents about how their property is assessed and how their tax rate is calculated. The City strives to make sure the public is educated and informed about their taxes and most importantly that they understand how the City of Lethbridge uses these funds to provide the vital services that make our city safe and vibrant.”

Residents can find information relating to their annual tax statement, from the Assessment and Taxation Department or online.

by Dori Modney (@Dori_Modney on Twitter)

2016 Property Tax Rate Approved by City Council

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