By rdnewsNow.com staff

Tax Rate Increase

Ponoka residents to see modest tax rate increase this year

May 17, 2019 | 1:26 PM

Ponoka residents will see a modest increase to their property taxes this year.

Following a lengthy budget deliberation process, council has approved the 2019 Capital and Operating Budgets, resulting in the equivalent of a 2.2 per cent residential property tax increase.

Town officials say the total amount of the 2019 Budget is $25,524,319, which includes an Operating Budget of $18,605,124 and a Capital Budget of $6,919,195.

Officials add, the 2019 Budget contains a municipal property tax increase of $17 per $100,000 of residential property assessment, and $22 per $100,000 of commercial property assessment.

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“This is a responsible budget that balances the need to continue carefully managing our spending and keep taxes as low as possible, while continuing to focus on growth, invest in key infrastructure, and maintain existing service levels for the many essential services our citizens rely on every day,” says Ponoka Mayor Rick Bonnett, in a press release.

Bonnett notes council successfully held the residential property tax increase to approximately the rate of inflation.

“It’s a budget that recognizes our economy is still struggling. However, once the economy finally turns the corner, this budget also positions the Town for growth.”

In addition, Bonnett says a new Community Wellness Centre, which would be developed in phases beginning with a new fieldhouse, continues to be a key priority for future growth.

“New recreation facilities such as fieldhouses deliver proven economic benefits to communities such as attracting new residents and businesses, and in turn, help to increase property values and tax revenue,” he explains. “They’re vital economic drivers. The 2019 Budget allocates $100,000 to a new fieldhouse, funds which would be used for any studies, design or strategy work needed to continue moving forward with the project.”

The 2019 Budget is also said to offer a solid infrastructure renewal program that focuses on priority projects most in need of repair or replacement.

According to Town officials, the vast majority of capital and infrastructure projects are once again being supported through provincial and federal grant funding.

Other items of note in this year’s budget include an increased service level for waste management, town trail Improvements, an economic development strategy, downtown development and holding the line on staffing levels.

Town officials say the 2019 Budget also aligns with the results of the Town’s annual public consultation process which once again included a public open house and annual Citizen Budget Survey.

The top three priorities identified through the public consultation process include the maintenance and construction of new infrastructure; economic development and business growth; and finding spending efficiencies to keep taxes low.

“Council took the survey results into consideration and addressed all of those priorities in the 2019 Budget,” says Mayor Bonnett. The 2019 Budget will be posted on the Town website at www.ponoka.ca.

(With files from the Town of Ponoka)