Cochrane looks to keep property tax increase below 1 per cent
Posted Oct 26, 2016 9:15 pm.
This article is more than 5 years old.
Cochrane residents looking to keep a little more money in their pocket may see it as good news, the town is out with its 2017 draft budget.
According to town documents, they’re hoping to keep it below 1 per cent at 0.88% on the average residential property (assessed at $492,352).
Breaking it down it comes to about $1.53 a month or $18.36 for the calendar year.
“It’s a very tight budget for us this year, we’re working very hard to keep our costs down and work within the resources that we have,” said Senior Manager Corporate Services Paige Milner.
Municipal property tax revenue in 2017 is estimated at $23.8 million, an increase of 2.88% over 2016.
Milner says they’ve seen incredible growth in recent years and town officials thought it was necessary in order to maintain current service delivery and plan for the aquatic and curling/multisport centre.
“Our work force is finding it very hard to keep up current staffing levels, we’re asking for a few more people in 2017.”
Money will also be used for improving roads and pathways, planning for a community cultural hub and implementing an economic development strategy.
No increases are being proposed for water, wastewater, storm sewer, solid waste and recycling utility rates.
There will be a 4 per cent increase proposed in building permit fees.
They concede the incoming carbon tax will also have an impact on the budget adding approximately $10,000 in fuel to the town and $30,000 in power costs.
Cochrane has seen a 32 per cent jump in its population since 2013.
Council still has to approve the document which will happen on November 25 and 26, 2017.
