Town of Devon Council approves 2020 tax rates
Municipal tax increase of 1.98 per cent approved for 2020
Town of Devon Council approved the Town’s 2020 tax rates at its regular Council Meeting on Monday, June 22, 2020. In total, Devon will see a 1.98 per cent municipal tax increase for 2020.
For a household with a median assessed value of $308,900, the impact of a 1.98 per cent tax rate increase is an estimated decrease of $14.82 per year or $1.23 per month. Property assessments are based off of the calculated value of a property as of July 1 of the previous year.
2020 Operating Budget Background
On Dec. 9, 2019, Council approved the 2020 budget with a 1.98 per cent municipal tax increase.
Due to a further decline in property assessment rates in 2020 and the current economic climate of COVID-19, Council faced many challenges to maintain the 1.98 per cent budget increase and generate the necessary revenue to balance the budget. With this loss in property tax revenue, the effective tax rate increase would have been 3.71 per cent to maintain the current approved Operating Budget.
To achieve the 1.98 per cent tax increase, Administration was challenged with finding reductions in budgets throughout the organization and was successful in doing its part to maintain the budgeted tax increase for the community.
“This was the toughest budget we have faced as a Council as we were challenged again with decreased assessment values amidst an economic crisis due to the COVID-19 pandemic,” said Ray Ralph, Mayor for the Town of Devon. “We knew we needed to do our part to ease the tax burden on our residents and I am proud of the work done by Administration to achieve this while maintaining the service our residents expect from the Town.”
Tax notices will be mailed out to residential and non-residential property owners on June 30, 2020.
The payment due date has been extended to Sept. 1, 2020 and can be made:
- In person at the Town Office at 1 Columbia Avenue West, Devon, AB
- Our pre-authorized plan (PAP) to make convenient monthly payments
- Electronic payments - note, not all financial institutions have the same payment deadlines. Please ensure you check with your financial institution for cut-off and processing times.
- Postdated cheques may be dropped off with the detachable portion of the tax notice at the Town Office between 8:30 a.m. and 4:30 p.m. at reception or after hours in our drop box.
If you have not received your tax notice by Tuesday, July 7, please contact the Town Office at 780-987-8300.
Learn more about your property tax notice at devon.ca/property-tax.
For more information contact:
Town of Devon
General Manager, Corporate Services
Town of Devon