Finance

Financial Statements

2010 Taxes

The 2010 Assessment and Tax Notices were mailed on June 23, 2010.

Due Date for tax payment is July 31^st to avoid all penalties, whether or not you receive your notice. Payment must be sent to the Summer Village office at 5515 – 44 Avenue, Wetaskiwin, AB T9A 0C8. Cheque(s) must be dated no later than July 31, 2010. If mailed, the envelope must bear a postmark of no later than July 31, 2010. Make cheques payable to: The Summer Village of Itaska Beach.

Property assessments are an estimate of the market value of property as of July 1^st of the year prior to the tax year. Assessments decreased on average this year by 18% for residential, and 41% for vacant lots. The Alberta School Fund Foundation requisition increased by 5.7%, and the municipal portion of the taxes increased by 11.7%.

Most of the capital projects are able to be funded by utilizing grants available. There are large operating costs in many of the areas, including policing, garbage, grass/flower maintenance, administration, and sewer operating fees. There were also larger legal fees (re: land), and fulfilling the requirements from Municipal Affairs in areas such as disaster planning. Another major change is in how assets are recorded in the books. Each year amortization expenses (depreciation) is budgeted for, and will transfer to the balance sheet at the end of the year, building up our cash to replace those assets at the end of their life. When capital purchases are made, the expense does not increase the tax rate, but does decrease the cash. These items will go directly into an asset account on the balance sheet.

Seniors can receive a rebate for the difference in increase for the Alberta School Fund Foundation requisition. For more information, please call 1-800-642-3853 or visit www.seniors.gov.ab.ca.

Education Tax

For more information on the Education Property Tax, please visit their website: http://education.alberta.ca

Assessment Complaints:

For an overview of assessments and frequently asked questions, click here.

Assessment Information Brochure

Assessment Complaint Process

If you believe your own or any other assessment is unfair, you can go to: www.crasc.ca and submit an inquiry - the assessor will contact you as soon as he is able to review your assessment. Please note: most concerns are resolved before complaints reach the Assessment Review Board. If, after discussion with the assessor, you still do not agree with your assessment, please speak with the assessor about the assessment appeal process.

For a complaint to be heard by an Assessment Review Board, the complaint form must be completed and filed at the Summer Village Office along with the appropriate fee, as established by Council, no later than the deadline date (as will be indicated on your Assessment and Taxation Notice). If an Assessment Complaint is to be handled by an Agent, the Assessment Complaints Agent Authorization form must also be filed.

Assessment Complaint Form
Assessment Complaints Agent Authorization
Assessment Appeal Fee: $50 for residential of 3 or fewer

A complaint against your assessed property value does not exempt you from paying taxes on time or late payment penalties. If a complaint is successful, the adjustment will be applied to the tax roll.

Local Improvement Levy

All cottages in Itaska must be connected to sewer. When the sewer line was installed in 1989, a levy was implemented for all home owners. Some residents chose to pay this entire levy in full, while others will see a local improvement levy on their taxes. If you are interested in pre-paying this levy, please contact the Summer Village Office.