Coaldale Town Council passes capital and operating budgets
The Town of Coaldale budget for 2022 will see a modest increase in residential and nonresidential property taxes. It was determined during the budget deliberations that $151,279 in additional municipal taxes are required to balance the budget as presented to Council. This would result in an effective municipal tax increase of 1.72% for 2022, which is about half of what economists from Canada’s major banks are projecting as the rate of inflation for the year.
“A 1.72% change in tax rates is well below the average increase around comparable municipalities,” said Coaldale Mayor Jack Van Rijn. “Council carefully considered all angles in our discussions to maintain our level of services with the funds required to balance the budget.”
The tax increase will affect property owners differently depending on their property’s assessed value. A 1.72% increase is approximately a $13.78 yearly increase for every $100,000 of assessed residential property value, and $17.25 for every $100,000 of non-residential property value.
Other factors that may affect your property tax bill include fluctuations in property assessment, changes to the provincial Green Acres Foundation budget, and changes to the Government of Alberta school budget.
The approved 2022-2024 operating budget will include the addition of the following requests:
• Records management project
• Fire Master Plan
• Curb stop and alley replacement programs
• Fire hydrant replacement program
• Cottonwood storm pond dredging
• Water reservoir study
• West Coaldale Transportation study
• Main Street supplies
• Inter-Municipal Development Plan
• North Coaldale Industrial ASP
• Library Alcove Renovation
Council also approved the 2022-2026 capital plan, with a focus on projects currently in process and approved projects that have not yet started. New capital requests are relatively minimal compared to previous years, with an expectation of a more robust capital plan developed for the 2023 budget once Council has had a chance to establish their strategic priorities. New capital projects for the 2022 budget include:
• Funding for a new emergency services truck, wide area mower, single axle dump truck, and broom attachment for Bobcat
• Paving of NE Industrial Park roads
• Funding for quads automated irrigation A utility rate increase was also approved for 2022 and 2023 in order to fund the capital and operating requirements for the aerated lagoon upgrade project. The lagoon upgrades are necessary to meet current standards under the provincial Environmental Protection and Enhancement Act. The project is being partially funded through the AMWWP grant from the Government of Alberta.