Your news this week: Mundare Squadron Promotions - Page 8 Clubroot Policy - Page 10 Bruderheim Community Park - Page 11 Example park design.
Read us online at www.lamontleader.com twitter.com/lamontleader
7, No. 30 November Tuesday, May 29, 2012 Vol. 7, No.Vol. 2, Tuesday, 8, 2011
Lamont Veselka Ukrainian dancers come full circle
MICHELLE PINON PHOTO
Members of the Lamont Veselka Ukrainian Dancers enjoyed their final performances of the season before an enthusiastic crowd at the Dow Centennial Centre in Fort Saskatchewan May 26. Coming Full Circle was the title of the group’s 41 annual concert. Watch next week’s paper for a two page spread.
Town of Lamont lowers mill rate for its residents By Michelle Pinon Editor
Lamont town council recently passed its 2012 budget and mill rate bylaw. The good news is that residential mill rates were reduced. The bad news is that it doesn't necessarily mean property taxes will be reduced. Whether taxes decrease, remain the same, or increase will totally hinge on property assessment; and those
assessment notices are expected to be in residents’ mail boxes this week, confirmed acting chief administrative officer Sandi Maschmeyer. Basically, an assessment is a dollar value assigned to a property for taxation purposes. Since the town had hired Tanmar Consulting Inc. to conduct the assessment, Maschmeyer said that all of the residential properties had been assessed this year. In subsequent years, the
company will be assessing 25 per cent of residential properties on a random basis, added Maschmeyer. In Alberta, most property is assessed using market value, with the exception of farmland, railway, machinery and equipment. Linear assessments are done by the province. Market value is defined as the price a property might reasonably be expected to sell for if sold by a willing
seller to a willing buyer after appropriate time and exposure in an open market. Mike Krim of Tanmar Consulting stated that market value is considered to be the most fair and equitable way to assess property. Under the new 2012 Property Tax Bylaw, unanimously passed by members of town council on May 22, the total assessment of taxable property is $161,958,690. The mill rate for both residential and farmland is
11.972 compared to 12.266 in 2011. Non-residential tax rate is 16.079 and machinery and equipment at 13.566. According to the 2012 budget, projected revenue is pegged at $4,404,135 while projected expenses are estimated to be $3,562,713. In terms of capital projects, the town will be installing water and sewer services across Highway 15. Council recently approved taking out a debenture for the
project. The term was set at 15 years at an average interest rate of 3.16 per cent for an annual payment of $86,992. Under the list of proposed capital projects are upgrades to the back lane between 46 and 47 Street in the Campbell subdivision. The back lane between 56 Avenue and Prince Drive will be paved along with the parking lot at the town office. Repairs will be made to the sidewalk at 50 A Street.