On January 22, at the Regular Council Meeting, Council passed the 2024 Property Tax-Supported Operating Budget of approximately $22.3 million, including requisitions. The Operating Budget is prepared with a four-year outlook and is reviewed and approved annually. This financial planning provides a strong foundation and the ability for the organization to be flexible with future projects and initiatives.   

Proposed in the 2024 Property Tax-Supported Operating Budget was an increase in tax revenue of 4.0%. As the Property Tax-Supported Budget was deliberated, Administration brought forward six comparable municipalities, with an average increase based on these municipalities of 5.74%.  

The Town is responsible for collecting and remitting provincial requisition, including the Educational Requisition (13%), Seniors’ Lodge Requisition (3%) and the RCMP Policing Contract (9%). In 2024, the requisitions represent $5.475 million of the Town’s Operating Budget.  

“Administration has worked hard to produce a budget that is prudent and equitable during a time of increased costs brought on by inflation, all of which have an impact on the Town's operations,” states Councillor Tony Lacher. “The proposed increased has been reduced to a level that we, as Council, are satisfied with, considering the economic conditions that we continue to face.” 

The budgeting process is focused on achieving balance, investing in infrastructure and increasing the efficiencies in service delivery while exploring opportunities to reduce costs. The Town’s increase in response to high interest rate and inflationary environment is comparable to other municipalities in Alberta, as noted with the following comparable municipalities. 

* Please note that, at the time of writing, Banff’s 2024 Budget is yet to be adopted by their Council.  

The 2024 Property Tax-Supported Operating Budget is available for review at drumheller.ca.  

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