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Council Highlights for May 21st, 2020

Council made decisions on the following issues at their May 21st regular meeting:

BYLAW 573 – TAX PENALTY BYLAW

Council approved Bylaw 573, a bylaw to amend the Tax Penalty Bylaw.  The amending bylaw provides a property tax deferral for all non-residential properties in 2020 due to the COVID-19 pandemic.  This means that non-residential properties will not be penalized for late payment of property taxes until November 1st, 2020.  This exceeds the Provincial Government’s requirement of deferring the education portion until September 30th or deferring both the municipal and education portion until August 31st.

Residential property taxes are still due by July 31st, 2020.

CAPITAL BUDGET – 2020 REVISED BUDGET

Council approved the revised 2020 Capital Budget for a total amount of $864,100.  The budget can be found at sedgewick.ca under ‘financials’.

OPERATING BUDGET – 2020 REVISED BUDGET

Council approved the revised 2020 Operating Budget which requires $846.500 to be collected through municipal property taxes.  This is less than a 2% increase over the $830,000 collected in 2019. The budget can be found at sedgewick.ca under ‘financials’.

BYLAW 574 – TAX BYLAW

Council approved the 2020 Tax Bylaw levying the following tax rates:

Residential and Farmland                                                      8.5857005

Non-Residential and Designated Industrial Properties          9.5036188

In 2020, a residential property that is assessed at $250,000 can be expected to pay $2,821 in property taxes.  This includes the municipal portion as well as the education and seniors housing portions which are collected on behalf of the provincial government and Flagstaff Regional Housing Group respectively.  This is an $86 increase over 2019.

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