On November 30, Lacombe County Council adopted the County’s 2018 interim operating and capital budgets. The budgets continue to follow priorities set out in the County’s Strategic Plan and its long-range road construction and capital equipment replacement plans. They also reflect the desire to support the maintenance of existing service levels, while undertaking some new initiatives, such as funding for an RCMP enhanced position to help combat crime in our area.
The $56,315,470 interim operating budget is balanced and is supported by a 2.5% property tax rate increase for residential properties and 4.5% property tax rate increase for all other properties and a transfer of $322,300 from the tax rate stabilization reserve. The 2.5% property tax rate increase represents an additional $24.40 in taxes on a $400,000 residential property.
“The 2018 budget recognizes the challenges Alberta has faced over the past few years due to the economic downturn – both from a municipal, ratepayer, and industry perspective,” said Manager of Corporate Services Tim Timmons. “Council felt this budget will allow Lacombe County to take advantage of the competitive pricing environment for new infrastructure projects, while protecting our existing infrastructure assets.”