Next year’s municipal budget comes with a 4.8 per cent property tax hike in Okotoks.
The increase is part of a 2025 operating budget, approved on Nov. 19, that puts expenses at $75.7 million and revenue at $80.4 million for the coming year.
The average Okotoks homeowner, who has a home valued at $663,000, will see an increase of $134.48 per year to their property tax bill, the Town said.
Mayor Tanya Thorn said the budget balances the impacts of inflation and rising costs with the need to save.
“Administration worked hard to find ways of maintaining the service levels that mattered most to our community,” Thorn said.
Service levels are largely the same, but there are some changes designed to reduce costs for residents and businesses, the Town said.
Licensing fees for dogs and urban hens are being dropped, and a new flat-rate business license fee is being introduced.
Currently, tiered-rate business licenses can run from $200 to $510 for a storefront business, depending on the number of staff. The new fee will be $160.
Some utility fees are being reduced, and that will save the average homeowner about $9.20 per month, the Town said.
Starting in May, curbside recycling will be funded by the extended producer responsibility program, and waste collection will switch to bi-weekly garbage pickup, making up most of the reduction in utility fees.
The Town said that if property taxes and utility fees are combined, the average single-family homeowner will see a total increase of $23.88 per year.
During budget engagement done by the Town, 65 per cent of respondents said they wanted service levels to stay the same, the Town said.
The municipal property tax increase excludes requisitions.
