2023 Property Tax-Supported Operating Budget Approved by Council
Posted on Dec. 21 2022At the Regular Council Meeting on December 19, Council passed the 2023 property-tax-supported Operating Budget. The Operating Budget is prepared with a four-year outlook and is reviewed and approved yearly. This financial planning provides a strong foundation and the ability for the organization to be flexible with future projects and initiatives.
In 2021, the Federal government announced that a collective agreement had been reached under the RCMP Agreement, which resulted in an increase of approximately $352,000 in policing costs to Drumheller residents in 2022. This year, with the anticipated increase in salaries and other services, the RCMP results in an approximate 4.0% of the total increase in the tax requisition.
“In an environment of high inflation, rising interest rates and downloading of costs, all efforts have been made to minimize this tax increase, which includes a withdrawal from Town Reserves,” states Tony Lacher. “I am satisfied that the 4.8% increase, albeit higher than past years, is required to meet the operational needs of the Town for 2023.”
Each week, as the Operating Budget was brought forward to Council, Administration presented the 2023 Municipal Property Tax Revenue Increase for nine comparable municipalities. The range of expected tax revenue increases in these municipalities is between 3.00% and 10.26%. The Town of Drumheller is below the average property tax increase amongst these communities.
Municipality |
2023 Municipal Property Tax Increase |
Taber |
3.00% |
Morinville |
3.50% |
Olds |
4.00% |
Ponoka |
4.00% |
Blackfalds |
4.76% |
Drumheller |
4.80% |
Devon |
5.67% |
Slave Lake |
5.90% |
Edson |
8.25% |
Banff |
10.26% |
Average Increase |
5.48% |
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