By rdnewsNOW staff

property taxes due july 31

Sylvan Lake town council approves budget, tax rate bylaw

Apr 29, 2025 | 3:03 PM

Sylvan Lake town council has approved the municipal budget and property tax bylaw for 2025.

The budget now takes account for an 8.5 per cent increased in assessed values, which is higher than the estimated increase from December of 3.0 per cent.

The town notes the following:

• Residential experienced the strongest increases in market value, with many homes selling for more than list price
• Commercial properties did not see significant market value increases. Some commercial properties saw a reduction in assessed value due to the tough financial climate in Alberta
• New construction added $127.3 million in assessed value to the 2025 tax base
• Our third-party contractor does property assessments, and sets assessed home values

Summary of changes

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• Council approved a 0.44 per cent residential and a 0.26 per cent commercial tax increase
• The core municipal tax rate will increase more than estimated in the draft budget
• Recreation and transportation levies are increasing
• Government of Alberta Education Tax: We’ve seen the largest increase in education taxes in over 20 years. The total 2025 requisition is $8,240,905, up from $7,448,997 in 2024. This is an increase of $791,908 or 11 per cent
• Senior’s housing: The Sylvan Lake Foundation also increased their requisition. The total requisition is $430,450, up from $410,965 in 2024. This is an increase of $20,165 or 5.8 per cent

The town will send out combined assessment and taxation notices during the second week of May. This is about two weeks earlier than usual because Canada Post may strike at the end of May.

The property tax deadline will be July 31, and payments still must be received by the deadline even in the event of a postal strike. The appeal deadline is also July 31.

If you have questions, contact the town here.