Lacombe County has approved the 2024 tax rates.
In a move that aligns with its financial planning and policy commitments, Lacombe County has officially approved the tax rates for the year 2024, as outlined in the 2024 Tax Rate Bylaw. This comes after the completion of the property assessments for 2024 and the release of the year's provincial requisitions. It marks a significant moment for the County, particularly as it's the first year since the Budget Policy AD(24) approval in 2023, that the Council did not prepare a budget amendment.
“Approving the 2024 tax rates without increasing the burden on our residential taxpayers – especially with inflation being a concern for so many people – reflects our commitment to responsible governance and community support,” said Lacombe County Reeve Barb Shepherd. “This approach ensures that we continue to provide essential services while fostering an environment conducive to growth and stability in Lacombe County.”
Understanding the 2024 Tax Rates
For the year 2024, residential municipal property tax rates will see no increase, maintaining a steady rate, which aligns with the County's commitment to affordability and stability for its residents. On the other hand, farmland and non-residential municipal tax rates will experience a modest increase of 1%.
These rates are consistent with the projections made in the 2024 budget approved last November, showcasing the County's efforts in keeping tax adjustments predictable and minimal.
The municipal tax levy for 2024 is set at $36,117,420, showing a progression in the County's financial strategy to support its growing needs. This levy supports various County services and initiatives, ensuring that Lacombe County remains a vibrant and thriving community.
The 2024 tax rates and tax rate changes for Lacombe County, the Provincial RCMP Policing Levy, Alberta Education, and the Lacombe Foundation are as follows:
Budget Adjustments and Tax Levy Changes
Since approving the budget in November 2023, additional budget requirements approved by the Council or significant changes to estimates required an additional $262,340. These adjustments include:
• Increase of WCB Premiums - $71,010
• 2024 Line Painting Contract - $59,700
• Town of Blackfalds Bike Skills Park operating costs - $6,000
• Additional contribution to the Bridge Reserve - $125,630
These changes reflect the County's ongoing commitment to infrastructure, safety, and community development.
Allocation of Taxes
Taxes collected from Lacombe County residents and businesses support a wide range of services and infrastructure. These include:
• Policing and Public Safety: Through the Provincial RCMP Levy, as well as our Community Peace Officers and County Fire Services, we ensure the community remains safe and secure through effective policing and emergency and fire services.
• Education: Contributing to the Alberta School Fund Requisition, supporting local education and school boards.
• Infrastructure and Public Works: Funding projects like road maintenance, bridge replacements, and the development of community facilities, like operational support for the Town of Blackfalds Bike Skills Park or covering a portion of the ice plant replacement at the Bentley Arena.
• Community Services: Supporting senior services through the Lacombe Foundation Requisition, ensuring that the County's elderly residents receive the care and support they need.
A Forward-Looking Approach
Lacombe County's approach to the 2024 tax rates demonstrates a balanced consideration of growth, market values, and the need for essential services. By maintaining a stable rate for residential taxes and carefully adjusting farmland and non-residential rates, the County aims to support its development while ensuring fiscal responsibility.
“The 2024 budget adjustments and the resulting tax levy are designed to strategically support significant County initiatives, including public safety, infrastructure development and maintenance, and support for our neighbouring communities,” said County Manager Tim Timmons. “We are committed to enhancing our community's well-being while carefully managing the financial contributions required from our residents and businesses.”
Residents and businesses are reminded of the value their tax contributions bring to the community. They enhance the quality of life and provide essential services that make Lacombe County a great place to live and work. With the approved tax rates and the strategic allocation of resources, Lacombe County is set to continue its sustainable growth and community development trajectory.
**with information provided by Lacombe County
Mon, Apr 29, 6:30 PM
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