By Sheldon Spackman

Budgeting For The Future

Declining assessment values likely to offset tax increase in Sylvan Lake

Dec 16, 2019 | 2:07 PM

The Town of Sylvan Lake has released its proposed 2020-2022 Financial Plan for public review and feedback.

The proposed budget has identified a 2.88 per cent residential tax rate increase for 2020.

However, a projected three per cent drop in property assessment values next year is anticipated to offset that and result in property owners, on average, paying slightly less in taxes.

As such, the owner of a residential property valued at $350,000 in 2019 will pay $4 less in taxes next year.

No tax rate increase is proposed for non-residential properties.

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“We understand the challenges of today’s economic climate,” Mayor Sean McIntyre says in a release. “However, residents have also indicated that maintaining (or even enhancing), existing service levels, as a priority. The draft 2020 budget is one where key priorities of the community are still pursued.”

Sylvan Lake’s Operating Budget for 2020 is just over $37 million while the Capital Budget is $16.8 million.

Key initiatives proposed in the 2020 Operating Budget include a continued focus on offering more events year-round as part of the Town’s Festival and Event, and Tourism Development Strategies, enhanced snow removal services and providing a growing set of options to connect with the Town online.

In addition, no Franchise Fee increases are proposed for 2020, as well as no utility rate increases, recreation or transportation levy increases, or non-residential tax rate increases next year.

Final tax rates will be formally set in the spring once assessment values are determined, and education requisitions are set by the Government in next year’s Provincial budget.

The Town’s 2020-2022 Financial Plan also proposes tax rate increases of 4.45 per cent and 6.24 per cent in each of the next two years to fund the Operating Budget.

In the meantime, council approved an interim Operating Budget of $5 million on Dec. 9 in case any unforeseen circumstances arise to delay approval of the Town’s final budget.

Capital Budget highlights include over $4.2 million for development of Pogadl Park, and $2.5 million towards Transportation construction projects.

The public has until Jan. 9 to submit budget-related comments or questions for Town consideration prior to budget approval on Jan. 13. More information is available at www.sylvanlake.ca/budget.

Elsewhere, council also passed first reading of a new Waste Bylaw, and Water and Sewer Bylaw on Dec. 9.

The new Waste Bylaw would see a tippage rate increase of $4 per tonne, to $98 per tonne to dispose of waste at the City of Red Deer’s Waste Management Facility. Town officials describe the increase as inflationary in nature and partially to offset increased operating costs at the facility.

Meanwhile, the proposed new Water and Sewer Bylaw is expected to fulfill legislative requirements, service requests and provide a more precise and clear bylaw.

A Public Hearing for the proposed new Waste Bylaw will take place Jan. 13, 2020 at 6:00 p.m. in Council Chambers of the Municipal Government Building.

A Public Hearing for the newly proposed Water and Sewer Bylaw will take place Jan. 27 at 6:00 p.m. at town hall.