Published on December 16, 2025

Council Approves 2026-28 Financial Plan and 2026 Budget

At the December 16, 2025, Council meeting, the City’s 2026-28 Financial Plan and 2026 Budget were approved, following the budget deliberation process. This includes the 2026 Municipal and Utility Operating and Capital budgets.

The approved 2026 budget includes:

Municipal Budget - The approved Municipal Operating Budget of $230 million with a tax levy of $152 million results in an average property tax increase of $29 per year, per $100,000 assessed property value, or 3.9 per cent. For 2026, the municipal investment plan includes:
- 17 new operating budget requests, funded through reserve and new growth in the community, which have no impact on taxes and address the needs in some of the key service areas, maintain service delivery, and support projects that advance Council’s priority areas.
- 27 municipal capital charters focusing on repairing, maintaining, or replacing existing infrastructure.
- 11 capital charters that address community growth.
Utility Budget - Utility rates for 2026 were approved with an average increase of $11.38 per month or 7.0 per cent higher than in 2025. For 2026, the utility capital plan investment includes:
9 capital projects, focusing on repairing, maintaining and/or replacing existing utility infrastructure.

The approved 2026 budget continues to focus on maintaining high standards for the delivery of programs and services to residents, businesses and community partners while setting conditions for future growth, community well-being and economic prosperity.

View the Approved 2026 Budget Summary

The actual tax rate will not be finalized until May 2026 after the assessment roll is completed.