Town of Coaldale sign -- LNN

By Dori Modney

Town of Coaldale approves 2021 budget, with third consecutive 0% increase in residential taxes

Dec 21, 2020 | 1:19 PM

COALDALE, AB. — Official budget documents won’t be released until the new year, however, the Town of Coaldale announced last Friday (Dec18) that its 2021 budget had been approved.

The budget takes into account operating and capital spending through 2024. Town Director of Corporate Services, Kyle Beauchamp (Bow shh-omp), indicates that even with all the investment being made into new infrastructure, buildings, and recreation amenities, the Town remains in a healthy financial position.

“Despite the unanticipated economic effects brought on by COVID-19, the Town’s budget has remained exceptionally healthy.” “We’ve still been able to withstand the obstacles brought on by the global pandemic and bring back a 0% increase in municipal tax rates to ease any financial burdens on residents and businesses.”

Beauchamp adds, “Our staff has, wherever possible, attempted to proactively minimize expenses without reducing service levels. We spend a great deal of time reviewing historical spending and making sure our spending reflects our operational needs.”

The 2021 budget highlights include:

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• 3rd consecutive year of 0% increase in municipal residential tax rates
• 2nd consecutive year of 0% increase in municipal non-residential tax rates
• 0% increase in franchise fees (for natural gas and electricity) in 2021

Mayor Kim Craig notes, that in spite of the pandemic, the Town made a clear commitment to contributing towards the economic recovery of the region and the approved budget reflects that commitment.

The Town’s Manager of Economic Development, Cameron Mills, notes a third consecutive year of zero tax increases on residential property is a big deal, as it’s not something most municipalities can accomplish.

“Our residential tax rate remains very competitive, and our taxes on business are amongst the lowest in the region. Even in difficult economic times, Coaldale has managed to attract new families and a lot of private investment, and that’s in large part because people recognize the work that has been done to make this community such an attractive place to live and to do business.”