Coaldale approves new Operating and Capital Budgets

Dec 10, 2024 | 11:04 AM

COALDALE, AB – During its December 9, 2024, Regular Council Meeting, Coaldale Town Council formally approved a 2025-2027 Operating and 2025-2029 Capital Budget.

Property taxes for residential buildings will increase 2.85%, which means that an average Coaldale home valued at $315,000, the increase will be valued at $5.27 per month or $63.24 per year.

For non-residential buildings, the mill rate will increase by 3.2% from 9.69 to 10.0, which the town says maintains Coaldale’s position as a low tax environment for its business community.

However, town officials say there was some pressure put on them to find areas of saving, especially with Alberta’s inflation rate increase being higher at 3 per cent compared to the national increase at 2 per cent, and the removal of many photo radar sites in the province.

Coaldale mayor Jack Van Rijn said, “Don’t get me wrong – as a Council we understand why the province is prohibiting photo radar enforcement on provincial highways. Photo radar should be used for traffic safety purposes only; not revenue generation. That being said, these changes – combined with significant inflationary pressure – meant having to work hard to find areas of savings, as well as some additional revenues, to balance the budget.”

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Van Rijn added that despite the challenges, Council and Town staff were able to navigate this year’s fiscal challenges in a responsible manner.

READ MORE: Lethbridge News Now.

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by Christian Oldale