The Town of Sylvan Lake passed its 2020 Tax Bylaw at their most recent council meeting on Monday, May 25th. 

Here are the highlights:

  • When the 2020 budget was approved, the taxable assessment was projected to be down approximately 3%. With actual assessment values now available, the overall assessment is down approximately 0.2 % from 2019.
  • Due to COVID-19, the Town of Sylvan Lake has made changes to 2020 operating plans.
  • Municipal property tax rates remain unchanged from 2019 for both residential and non-residential properties; The 2020 budget previously included a 2.88% municipal property tax rate increase for residential properties.
  • The Town of Sylvan Lake is not passing a Supplementary Tax Bylaw for 2020 in order to give builders and business owners some relief in light of the public health pandemic

These rates do not include the provinces Education Tax changes which they collect on behalf of the Alberta Government.

There are some temporary tax measures in place as a result of COVID-19:

  • The Town of Sylvan Lake will allow property tax account holders the option to defer payments for the current year taxes, until December 31, 2020.
  • The Town of Sylvan Lake will not charge August and September late penalties on arrears for current year taxes.
  • *Members of the public are not required to apply or register to defer tax payments, but if you are currently subscribed to an automatic withdrawal program, you WILL need to contact us to cancel payments

“In the constantly changing times of COVID-19, we are working hard as a municipality to keep people safe, keep operating costs low, and to continue to provide the services that our residents expect. While these challenges are temporary, this has meant major changes in the way of doing things that brings with it increased costs in some areas and deferred costs in other areas.” – Mayor Sean McIntyre, Town of Sylvan Lake.

More information is available here at the Town of Sylvan Lakes website. 

 

Content provided by the Town of Sylvan Lake.