Ponoka Mayor Rick Bonnett

By rdnewsNOW staff

seeking balance

Ponoka passes interim budget with projected 2.7% tax increase

Dec 19, 2019 | 11:00 AM

The 2020 Interim Budget recently approved by Ponoka town council includes a projected property tax increase of 2.7 per cent.

With final rates to be set in the spring, the projected increase would equate to an additional $22 per $100,000 of residential property assessment, and about $29 per $100,000 of commercial property assessment.

The total amount of the 2020 Town of Ponoka Interim Budget is $25,430,870, which includes an Operating Budget of $18,824,920 and a Capital Budget of $6,605,950.

Of note, there is a roll back of 1.5% in council remuneration rates for 2020 compared to 2019.

$350,000 has been allocated from the 2018 Operating Budget surplus to help balance the 2020 Budget and minimize tax increases rather than transferring those funds to reserves.

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“This was a really tough budget to work through due to recently announced provincial funding cuts to municipalities,” says Ponoka Mayor Rick Bonnett. “However, with considerable fiscal restraint and cost cutting, we are pleased that we can minimize property tax increases for 2020 while continuing to maintain funding for existing service levels and provide the day-to-day services that our residents have come to expect and rely on.”

With more provincial funding cuts expected for 2021, Bonnett says it remains to be seen whether the town will be able to continue to avoid cuts to municipal services in 2021.

Albert Flootman, Chief Administrative Officer (CAO) for the Town of Ponoka says the amount residents pay in property taxes remains among the lowest of municipalities along the Highway 2 corridor.

“This Budget once again focuses on maintaining essential service levels and continuing to invest in key infrastructure, while always being aware of the need to minimize tax increases for residents and businesses during tough economic times,” says Flootman, who. He notes that the 2020 Interim Budget relies less on transfers from reserves to balance the books than past budgets.

The almost all of the projects in the town’s “smaller than usual” Capital Budget , officials say, are funded by provincial or federal grants. This includes the continuation of a three-year project investing in roads and storm drainage improvements to roadways in the southwest industrial park. There is also funding to begin the engineering design process to replace underground and roadway infrastructure on 52 Avenue between 51 and 53 St., $500,000 for annual paving and concrete improvements on Town roadways in 2020, and funding for park improvements, including development of the one-acre park space at the southwest corner of the old hospital site.

Bonnett says public input was taken into careful consideration for the budget.

“When asked which option they would choose to the balance the budget – increase taxes or cut services – a majority of people were open to a small increase in taxes to maintain or enhance services.”

A final 2020 Budget will be presented to Town Council for consideration by April 2020 once property assessments values, and the education and seniors’ housing tax requisitions are determined.

(With file from Town of Ponoka media release)