Lacombe’s 2020 budget comes with 1% tax increase

As a result, a household in Lacombe valued at $380,000 will see an increase of $30.10 for their tax bill for the year, or about $2.51 per month.

Water and wastewater rates will increase by 0.9 per cent in 2020, while the monthly flat rate will increase from $26.77 to $27.01 per month, and the consumption rate to increase from $2.47 to $2.49 per cubic metre.

The wastewater consumption rate will increase from $2.64 to $2.66 per m3 (charged at 100 per cent of water consumption used). The monthly flat rate will increase from $20.00 to $20.18 per month. Based on an average, water consumption of 18 cubic meters will result in a $1.73 per month increase.

Solid waste rates for 2020 will remain the same as 2019 rates – meaning the residential monthly solid waste rate stays at $31.76 per month next year.

Lacombe’s 2020 Operating Budget consists of revenues and expenses totaling $44.06 million, resulting in a balanced budget.

Highlights include approximately $148,000 in additional property tax revenues resulting from the one per cent tax increase, a 1.75 per cent Cost of Living Adjustment (COLA) for Lacombe Police Service Members, and a 0.9 per cent COLA for all other City employees.

Other highlights include debt repayment amounts to a total of approximately $2.4 million ($1 million interest and $1.4 million principal), and transfers to reserves amounting to approximately $2.5 million to partly fund the Ten Year Capital Plan.

The City will provide $5.1 million in funding allocations to external agencies – including the Lacombe Police Service and Lacombe Performing Arts Centre Foundation in 2020 – up from $4.8 million in 2019.

“Given the economic challenges facing Alberta, council has worked very hard to find solutions to maintain service levels without placing undue burden on taxpayers,” says Mayor Grant Creasey. “We are pleased to have kept the tax and utility rate increases to below the rate of inflation.”

“The City has demonstrated its commitment to keeping Lacombe a safe and caring community by finding solutions to cover the unexpected shortfalls experienced by Lacombe Police and FCSS,” adds CAO Matthew Goudy. “Administration has worked diligently with council to prepare a prudent budget that focuses on managing our infrastructure investments, while continuing to plan for future growth.”

Council will formally set the property tax rate in April 2020, after the assessment roll is prepared and the next provincial budget is announced.

(With file from City of Lacombe media release)

by rdnewsNOW staff

Lacombe’s 2020 budget comes with 1% tax increase

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