By rdnewsNOW staff

budget approved

Lower assessment values likely to offset tax hike in Sylvan Lake

Jan 16, 2020 | 11:38 AM

Sylvan Lake town council has approved a Municipal Operating Budget for 2020 that Town officials say balances service delivery with the needs of the community and economic realities.

On Monday, council approved an Operating Budget of over $37 million, Capital Budget of $16.8 million, and operating financial plans for both 2021 and 2022.

Mayor Sean McIntyre says he’s pleased with the fiscal responsibility of this year’s budget.

“Administration did a great deal of work making strategic adjustments and cuts to their Operating Budget, which left council still with some difficult decisions, but I’m pleased with what we were able to come out with at the end of the process.”

With property assessment values expected to decrease three per cent this year, officials say the Town must increase its residential tax rate 2.88 per cent in order to generate enough revenue to maintain existing service levels.

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Town officials anticipate property owners will see lower tax bills this year due to the lower assessment values.

“Some of our services are even being enhanced, and on average, property owners will pay less in municipal property tax,” McIntyre notes.

Town officials say municipal tax rates may increase this spring, if necessary, once actual assessment values are known.

McIntyre says the economy has been a challenge to work with.

“Specifically, the cost of inflation is still affecting everyone, including municipalities,” says McIntyre. “So we find ourselves in a position where the cost of doing business continues to increase, but the ability to increase taxes in an economy like this is definitely hampered.”

A breakdown of the Town’s Capital Budget this year shows $5.05 million earmarked for parks playgrounds and trails, $5.04 million for roads and transportation, $3.45 million for water supply and distribution, and $1.43 million dedicated to sanitary sewer and solid waste.

McIntyre notes, however, upcoming service enhancements through their Festival and Events strategy, improved snow clearing service levels, and a growing set of service options available online for residents while still charging less in taxes.

“We’re going to continue to focus on our core infrastructure to make sure that our residents have roads, sidewalks, water, sewer that meet their needs,” he explains. “We’re going to continue to progress on Pogadl Park, which I think will be something that our community can be proud of. And we’re continuing to work on our water reservoir which will service our community both in the near-term and through the next generation.”

Elsewhere, the Town of Sylvan Lake is not proposing any utility rate increases or franchise fee increases this year, nor increasing the transportation or recreation levy.

No increases to the non-residential tax rate is proposed either; in fact, officials note the Town’s non-residential tax rate has only increased twice in the past seven years as they work to grow the local economy.

Other notable highlights include core budget expenditures increasing no greater than 1.0 per cent in 2020, and assessment growth estimated at $30 million each year throughout the Three-Year Financial Plan.

For more details on the 2020 budget, visit www.sylvanlake.ca.