Council holds taxes with 2018 budget
City Council approved the 2018 Operating budget at $75.9 million and the Capital budget at $11 million at the Tuesday December 12 Council meeting. During the November budget meetings, Council passed motions which effectively reduced the 2018 proposed Operating budget by $1,318,100 and the 2018 proposed Capital budget by $3,393,250.
The revenue sources for the City’s Operating budget includes property taxes, utility rates, fines, user fees, grants, and investment income. Capital projects are primarily funded through capital reserves and external grants.
“Council has delivered a budget that holds taxes while still investing in community safety, infrastructure and resources to keep Fort Saskatchewan thriving and continuing on the upward swing economically,” stated Mayor Gale Katchur.
Council also approved the 2018 Fort Saskatchewan Public Library grant at $1,190,582.
Based on the preliminary tax assessment numbers, this budget is estimated to reduce municipal property taxes for residential and non-residential by 0.03% compared to last year. The property tax rates will be approved by Council in April 2018 when the final property assessment information is available.