The Municipality of Jasper will be able to offer tax relief to residents and businesses with the help of $3 million from the Alberta government.
This relief will cover the evacuation period for all properties and from July to December for damaged and destroyed properties.
“[It’s a] very good news story that we're receiving this assistance,” said Natasha Malenchak, director of finance and administration, during council’s committee of the whole meeting on Tuesday (Feb. 11).
Last year’s wildfire destroyed nearly a third of the townsite, including over 800 housing units, leading to a property tax assessment loss of $283 million. The evacuation itself also affected municipal revenue.
As a result, the municipality asked the provincial government for financial assistance to both stabilize its revenue and provide tax relief.
On Feb. 5, Municipal Affairs Minister Ric McIver announced to support Jasper’s recovery, including over $3 million toward tax relief for ratepayers.
Specifically, the Province has forgiven $1,114,555 in 2024 education property taxes for evacuated, damaged and destroyed properties. It is also providing $1,908,000, reflecting a 90:10 contribution split between the province and the municipality, in relief for municipal property taxes.
To cover the 10 per cent contribution, worth roughly $208,000, the municipality will have to draw from its financial stabilization reserve.
“This will allow the municipality to meet the provincial funding requirements for the 2024 tax relief program without affecting service levels or increasing the tax burden to the remaining property owners,” Malenchak said. “This approach ensures that eligible property owners receive the full tax benefit.”
In early April, taxpayers will receive their 2025 property tax assessment notice, which will reflect their property value as of Dec. 31, 2024.
“There will still be an assessed value provided to each property owner, even if their property was destroyed,” Malenchak said. “This means that there's also an amount that will be taxed for the portion of the land that is assessed.”
Before June 15, property owners will receive tax notices showing the tax relief measures for 2024 applied as a credit toward the 2025 tax bill.
Coun. Helen Kelleher-Empey asked if there was adequate funding in the financial stabilization reserve to cover the municipality’s contribution.
Malenchak replied the reserve had a total balance of $1.825 million as of Dec. 31 and would be able to cover this amount.
“Obviously, we’ll be keeping track of the 10 per cent, and we will be bringing forth to council later other decisions on how to recover or deal with the funds that we're pulling from the reserves,” she said.
Mayor Richard Ireland said he was grateful to both the provincial government for the financial support and administration for bringing its recommendation to council so quickly.
Committee recommended council approve the funding required to cover the municipal contribution. A final decision is expected next week.
