On Monday, Prince Albert’s Executive Committee will be considering a proposed 2025 Property Tax Plan. The plan aims to address the additional $8,577,515 needed to balance Prince Albert’s approved operating and capital budgets and reserve allocations. The plan will also improve the commercial-to-residential property tax ratio in the City.
Some of the proposed tax changes include a 1 per cent increase of the Snow Management Special Tax for Commercial Tiers to cover the approved budget increase of $81,935.
Also, the Roadways Special Tax for Commercial Tiers will rease by 9.5% due to increased assessment values, and the General Municipal Levy will increase from 11.307 mills to 13.918 mills.
Administration has evaluated all available tax tools and made recommendations. The proposed changes include:
1. General Municipal Levy: Increase from 11.307 mills to 13.918 mills to generate the necessary revenue.
2. Snow Management Special Tax for Commercial Tiers:
a. Increase by 1% to cover the approved budget increase of $81,935.
b. Residential and multi-residential special taxes will remain unchanged.
3. Roadways Special Tax for Commercial Tiers:
a. The tax will decrease by 9.5% due to increased assessment values. It will continue to fund the $4.4 million Roadways Recapping, Concrete Sidewalk, Curb, and Median Rehabilitation Program.
b. No changes will apply to residential and multi-residential properties.
4. Base Tax Increase: To support rising operational costs, which include police and fire costs, the base tax will increase by $320 for residential properties and $118 for multi-residential properties. Commercial properties will see increases on a sliding scale.
5. Library Levy: Increase from 0.662 mills to 0.789 mills to support the approved budget for the Prince Albert Public Library.
6. Minimum Tax: Increase by $100 for a total of $900. The vacant residential land tax remains at $1,600, with revenues dedicated to the Vacant Lot Program and unavailable for general budget balancing.
7. Civic Facilities Levy: Increase from 0.47 to 0.516 mills to support the approved budget.
There will be no impact on the following:
” Proactive Policing Special Tax: Remains at $35 per door.
” Destination Marketing Tax: Maintains the existing sliding scale for hotel properties.
