Pearl Lorentzen

Local Journalism Initiative Reporter

The M.D. of Opportunity industrial mill rate is still a bit higher than the provincial rules, but getting closer.

On June 11, council approved the mill rate, which include a ratio of 5.3:1, for industrial to residential. The provincial rules are 5:1. This ratio compares the non-residential and residential rates, with the non-residential on the left and higher.

The municipal tax mill rates are 3.7623 for residential, 19.49233 for non-residential, 14.9425 small business, 3.7623 for farmland, and 19.9233 for machinery and equipment.

Council had discussed the mill rate at the May 28 meeting, so passed the bylaw June 11 without any discussion.

The bylaw says that the total assessed value of the land in the M.D. is $3,199,763,700.

The M.D. is collecting municipal taxes of $59,395,596, plus requisitions for the province.

The requisitions are for the Alberta School Foundation Fund, seniors lodges, management body – housing, and designated industrial assessment. These requisitions bring the total gathered by the M.D. up to $74,331,036.

The province sets the requisitions. The M.D. figures out how much is needed to balance the budget, and chooses a mill rate to collect both.