Chestermere Has The Lowest Tax Rates For A City In The Region!Chestermere taxes are the lowest compared to Airdrie, Cochrane, Strathmore, Okotoks and Strathmore.Here is the chart comparing what the tax rates would be for the same value home in Chestermere as compared to Calgary, Okotoks, Airdrie, Strathmore, and Cochrane. This chart includes the total amount of taxes due including the Provincial Taxes due. I cannot explain how this was achieved better than Mayor Colvin did on May 18. I have copied his post from that date.
“2023 Tax Mill Rate, A New Record !!
3.61 is the 2022 Tax Mill Rate! 25% reduction! Likely lowest Tax rate in Alberta for City’s.
Due to the careful planning of Council and Administration, significant savings in operations were realized. Council achieved nothing short of incredible results. Council has decided to Cut the residential Tax Mill Rate by 25% from our first lowered 2022 rate. This will reduce or eliminate the effect the massive increase in property values has had on residents’ assessments. This will drop your taxes directly by approx. 17%.
This is amazing to achieve these reductions. However, coupled with the fact that Chestermere has very little commercial taxes to subsidize residents’ taxes, like EVERY other City in Alberta, this is particularly hard to achieve.
Further to this 25% reduction, Council is still able to save another $6.2M. Due to the Council’s significant savings of over $13M. Council can still cut the Tax Mill rate by 25% and keep another $6.2M from this year’s 2023 taxes. Meaning this will be added to last year, 2022 $6.2M savings. Providing us a goal of reaching $12.4M in combined savings for 2022 and 2023. This savings is meant for the recreation that Chestermere has been lacking for the past 40 years. The council could have cut rates by over 40%.”
Council passed a motion on May 16, 2023, for the Administration to prepare the Tax Mill Bylaw at a 3.61 Tax Mill Rate.
Chestermere is well on its way to prosperous years ahead, with a strong financial foundation.”