Lacombe proposed budgets include 2.8% tax increase

By rdnewsNOW staff
October 24, 2018 - 7:09am Updated: October 24, 2018 - 11:13am

LACOMBE-  Taxpayers in Lacombe are looking at an increase of 2.8 per cent on their tax bills in 2019.

Council has accepted the 2019 Provisional Operating Budget for information and consideration during the publicly accessible budget workshops scheduled for November 7, 8, and November 13 (if needed).

Under the proposed tax increase, an average house in Lacombe valued at $371,748 wiould see a total increase of $86.94 on their bill in 2019.

City officials say the Operating Budget has total revenues of $43,638,326 and total expenses of $43,638,326, resulting in a balanced budget.

A residential house consuming 18 cubic meters of water and receiving weekly garbage and recycling pickup will see a utility rate increase of $12.72 per month in 2019.

The Operating Budget includes $2.6 million of new debt, in addition to prior year approvals intended to support commercial and residential development on the west, north, and east sides of the community.

The proposed budget also represents an increase to the City’s savings allocations and includes Transfers to Reserve payments totalling just under $2.5 million.

It also includes adjustments wages to ensure the City "remains competitive in attracting and retaining quality staff." Wages and benefit changes include a 1.75 per cent increase for Lacombe Police (as per Collective Agreement), and a 2.8 percent Cost of Living Adjustment for City staff, Police administrative staff and Council.

The 2019 Provisional Capital Budget identifies $6,524,732 in new expenditures spread through 43 projects.

Funding for new projects is sourced primarily from grant funding at $3.432 million, with reserves at $1.408 million.

New borrowing estimated at $1,509,300, forms part of the offsite levies for the Henner’s Pond stormwater outlet project.

Council will discuss the 2019 Provisional Capital Budget and the 10 Year Capital Plan, which identifies the City’s capital expenditure needs for the next decade, at the November 5 council meeting.

More information on the 2019 Provisional Operating Budget is available at the City of Lacombe website.

Residents can attend the Budget Open House to review and provide comment on Nov. 15 from 4 p.m. until 7 p.m. in the North County Room, Lacombe Memorial Centre.

(With file from City of Lacombe media release)

 

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