St. Albert Taxpayers Association Meeting Tomorrow
22/10/2008 09:41
Hi Everyone;
The next meeting of the St. Albert Taxpayers Association Meeting:
- Thursday - October 23rd
- 7:00 pm - 8:30 pm
- St. Albert Senior Citizens Club
- 7 Tache Street (across from the Legion)
The BIG issue will be the 24% tax increase over the next 3 years.
Bring friends and neighbors - we must have a strong voice to fight City
Hall.
Sorry for the short notice - This is a REMINDER!
Take Care;
Gord Hennigar
Chairman
SINC SAYS:
As I have pointed out here before, the three year tax increase is NOT just 24 percent as Gord states. Consider this:
When you compound the rates the tax increase is actually 26.73%.
Using 8.39% for the first year on $1,000.00 = $1,083.90
So the next year, taxes go up another 8.42% on $1,083.90 = $1,175.16
Third year another 7.84% on $1,175.16 = $1,267.29
Total tax increase in real dollars is $267.29 per $1,000.00 or 26.73%, not 24.65% by adding the three proposed increases together.
That extra 2% or so is "hidden" by compounding, gives the city a substantial amount of "extra" income.
Just thought you might like to know folks. Any number crunchers out there want to double check my figures?