2293 Community Events Municipal tax increase of 2.43 per cent approved for 2022 Devon’s 2022 Tax Rate Bylaw was approved by Council at their Tuesday, May 24 Council Meeting with a 2.43 per cent municipal tax increase for 2022. For a household with a median assessed value of $322,000, the impact of a 2.43 per cent tax rate increase is an estimated increase in municipal taxes, as well as taxes levied for requisitions, of about $164.81 per year or $13.73 per month. Property assessments are based off the calculated value of a property as of July 1 of the previous year. On Dec. 13, 2021, Council approved the 2022 budget with a 3.90 per cent municipal tax increase that assumed residential property assessments would increase by 3.66 per cent. Once the assessment process was complete, the combined effect of market value and growth numbers were higher than anticipated allowing for a lower tax rate of 2.43 per cent to meet the Town’s tax revenue requirement. "Coming into a budget as a new Council is always a challenge as we tried our best to plan for the future, while also maintaining the level of service our residents have come to expect from the Town,” said Mayor Craddock. “With assessment going up across the region, we are pleased to see the required tax rate to meet our Operational Budget drop by 1.47 per cent from our budget deliberations in December.” Tax Notices Tax notices will be mailed out to residential and non-residential property owners on May 31, 2022. Payment is due on or before June 30, 2022, 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, June 7, 2022, please contact the Town Office at 780-987-8300. Learn more about your property tax notice at devon.ca/property-tax. Share Print