463 Community Events Average home with $351k assessment to see estimated increase of $232/year Devon’s 2024 Tax Rate Bylaw was approved by Council at their May 13, 2024, Council Meeting. To fund the 2024 Budget, households with an average assessed value of $351,000 will see an estimated increase of about $232 per year or about $19 per month on their municipal taxes. This includes taxes levied for the Provincial Education Requisition and Leduc Regional Housing Foundation Requisition. Property assessments are based on the estimated market value of a property as of July 1 of the previous year as regulated by the provincial government. Provincial Education Requisition The Provincial Education Requisition is collected on behalf of the provincial government and supports public and separate school students in grade 1-12. These taxes are pooled and then distributed to Alberta School Boards on an equal per-student basis and used to fund Alberta’s school system. Leduc Regional Housing Foundation Requisition The Leduc Regional Housing Foundation (LRHF) Requisition is collected on behalf of the LRHF and provides quality housing solutions and services to individuals and families within the Leduc Region, including Devon. 2024 Budget Notable Items Notable items in the 2024 Budget that contributed to an increase in property taxes include: RCMP contract cost increases Rises in operating costs due to inflationary pressures (fuel, equipment, utilities, insurance, etc.) Repaying the Income Stabilization Reserve – the Reserve used to reduce the property tax increase in 2023 Restoring critical Capital Reserves to ensure funds are available for future projects Restoring maintenance services levels for crack sealing and storm sewer that were reduced in the 2023 Budget "Attracting growth and new investment into Devon remained our theme for the 2024 Budget and between all of the new homes being built this past year and businesses opening their doors to invest in our community, we feel like we are continuing to go in the right direction,” said Mayor Craddock. “Planning for Devon’s future is very important to us, and we were also glad that we were able to fund some of our Capital Reserves and repay some of our Income Stabilization Reserve to ensure that there are funds available should they be needed in the future.” Tax Notice Mailing Tax notices will be mailed out to residential and non-residential property owners by May 31. Payment is due on or before June 30, 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 Friday, June 7, please contact the Town Office at 780-987-8300. Learn more about your property tax notice at devon.ca/property-tax. Share Print