A recent Ponoka town council decision will see the Ponoka Golf Club receive a hefty slash in its property taxes.
At it’s meeting on Sept. 11, council gave approval to a recreational tax exemption to the golf club that amounts to about $30,000 annually.
On Apr. 24, representatives of the club made the exemption request for the land that holds the actual course, the driving range and the maintenance facilities. The remaining portion, which includes the clubhouse, parking lot and three additional acres, is taxable.
In an agreement signed last month — and now ratified by council — the town and club have settled on a new assessment of the property. It shows the taxable amount is $1.4 million with the rest of the assessed land, nearly $2.192 million being exempted.
That translates into the club’s revised taxes being almost $18,400 this year, down from the original levy of about $47,900. With the club already having paid a large portion of its 2018 taxes, the town will be issuing a refund of just over $17,000.
CAO Albert Flootman noted the agreement will run annually with an automatic renewal on Jan. 1, unless notice of termination is given. He added that council, anytime in the future, may cancel this agreement through a resolution.