The Town of Okotoks' 2025 budget will include an increase in property taxes, as well as a decrease in utility rates.
Town Council approved the amendments to next year's budget, which includes an Operating Budget of $80.386 million, at their November 19 meeting.
The average Okotoks homeowner (with an assessed home value of $663,000) will see an increase of $1.99 a month, which is an additional $23.88 a year.
While inflationary costs did lead to a tax hike, the 4.8 per cent increase is lower than anticipated.
The Town will see reduced costs for utilities, as recycling will be funded by the Extended Producer Responsibility as of May 1 of next year, and curbside garbage pickup will change to a bi-weekly schedule, also starting in May of 2025.
Dog and urban hen licensing fees are also being dropped, and a flat-rate business license fee of $160 is being introduced in order to reduce barriers for new businesses.
The amendments to the 2025 budget were intended to maintain service levels and increase efficiency, which is in line with feedback the town received earlier this year.
They sought input from the community during budget talks in the spring, with 65 per cent of respondents saying they were happy with the current level of services in town.
“Administration worked hard to find ways of maintaining the service levels that mattered most to our community, balancing the impacts of inflation, increased cost of goods and services, all while finding ways to save,” said Mayor Tanya Thorn in a release from the Town.
In terms of capital spending, the Town has prioritized two projects: the supplemental water solution, and upgrades to the Okotoks Recreation Centre.
With the procurement process still underway for the water solution project, the full capital budget has not yet been disclosed in order to prevent budget data from negatively affecting the tendering process.
A list of "unfunded projects" has been created as a "holding area" until the final costs for the water line and rec centre upgrades have been determined and more information on potential grants and financing options has been secured.
The capital budget is expected to be released in early 2025.
More information on the 2025 budget can be seen on the Town's website, and a recording of the November 19 budget meeting is available.