Published on December 19, 2023
Council Approves 2024-26 Financial Plan & 2024 Budget
At the Council meeting on December 19, the City’s 2024-26 Financial Plan and 2024 Budget was approved following the budget deliberation process.
The 2024 Budget includes:
- Municipal Operating Budget
- Municipal Capital Budget
- Utility Operating Budget
- Utility Capital Budget
The approved 2024 Budget focuses on maintaining the delivery of programs and services to the community while responding to community growth. The approved 2024 Budget includes a property tax increase of $226 per year ($18.83 per month) or 5.5 per cent on an average household worth $500,000. The average utility rate will increase $12.30 per month or 8.5 per cent from the prior year.
The budget was approved with the City’s focus on maintaining the valued services and service levels residents expect and enjoy, while also enhancing other programs and services that meet new needs of our growing community. The focus of the approved budget emphasizes the need to invest in the future by enabling non-residential development, diversifying revenue, and increasing connectivity throughout the city, to include growth areas. It also focuses on enhancing efficiency by integrating digital technology and building capacity for key service areas and advancing Council’s priority Economic Prosperity to support and enable non-residential development with a focus on the Lakeview Business District. We are also adding to the Municipal Enforcement Community Peace Officer program to continue to support our growing community’s needs. To see a breakdown of what your tax dollars support, view the Approved 2024 Budget Summary
Results from the 2024 Budget Survey that took place October 24 to November 7, 2023, were shared with Council in a report prior to budget deliberations.
The actual tax rate will not be finalized until May 2024 after the assessment roll is completed. For more information, visit the 2024 Budget page
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Last edited: December 20, 2023