Airdrie City Council will be presented the final 2024 Operating and Capital Budgets on Monday, November 20 and it appears that a previously proposed tax increase for Airdrie households may be smaller than expected.
"The overall effect for municipal property taxes on the average home is projected to be $146.91 annually or approximately $12.24 per month," an agenda report from the city stated. "As a reminder, the municipal portion is approximately 67 per cent of the total property tax bill; 32 per cent is collected on behalf of the province for education tax and 1 per cent is collected on behalf of Rocky View Foundation for low rental housing units for seniors residing in Rocky View County."
Previously, the City's administration was proposing a tax increase of 9.7 per cent, which would have translated to over 200 dollars annually in increased taxes to Airdrie's households. The City has also enumerated how the tax increase will affect businesses of all sizes in the city.
In mid-October, the City's administration presented the 2024 proposed operating and capital budgets to the Council Budget Committee (CBC) and after November's deliberations, changes were made to the initial proposals.
"The Committee made modifications and arrived at a balanced budget that includes a municipal tax revenue increase of $5,239,437. The changes include $2,893,309 for municipal services, as well as $2,346,128 for capital investments."
City documents underline that while the initially proposed capital budget was set at $116.5 million, the CBC decided to increase it by $15.1 million, which brings the total 2024 capital budget to $131.6 million.
"Some major projects included in 2024 are the Highland Park Fire Station, the start of the Southwest Regional Recreation Centre, the Ed Eggerer Artificial Turf Field, the Ron Ebbesen Arena mid-lifecycle renovation, Financial Enterprise Software and various Roads and Utility projects."
City administration recommendations to council as per the agenda report, are that council should adopt the operating and capital budgets as well as adopt the 2025 - 2026 operating plans and 2025 - 2033 capital plans for information.
The tax increase that is being proposed is in line with what other towns and municipalities close to Airdrie have also decided on within their budgets; this includes The City of Calgary, as well as Cochrane.
City documents concluded that the 2024 budget document would be available to the public once it is designed and finalized early next year.
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