By Gary McKinnon

BUDGET BONUS

Budget surplus allows Sylvan Lake to lower tax increases

Apr 10, 2019 | 7:12 AM

Officials say higher revenues and fewer expenses have resulted in the Town of Sylvan Lake posting a budget surplus for 2018.

As a result, Council has approved the following amendments to the proposed 2019 budget, including a reduced 2019 residential tax rate from the proposed 2.74% down to 1.9%

Also proposed is a freeze on the non-residential tax rate as opposed to the previously proposed 2.74% increase.

“Economic Development continues as a strategic priority for us,” says Mayor Sean McIntyre.

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“As a Council, we understand the challenges that our business community is facing, given the economy in recent years. With an adjustment to our 2019 non-residential tax rate, we are reinforcing our commitment to local business retention and attraction. Council is also happy to approve a decrease to the proposed 2019 residential tax rate. Looking to 2019, we are shifting our focus to improving customer service.”

$237,000 is being allocated to the Sylvan Lake Spray Park Project, and there will now be a one-time allocation of $100,000 towards an Information Technology (IT) Sustainability Fund, to address IT service level gaps.