Town in sound financial position entering third consecutive year of no tax increases
The Town of Coaldale is pleased to announce the approval of the 2021 budget. 2021 budget highlights include:
- 3rd consecutive year of 0% increase in municipal residential tax rates
- 2nd consecutive year of 0% increase in municipal non-residential tax rates
- 0% increase in franchise fees (for natural gas and electricity) in 2021
“Despite the unanticipated economic effects brought on by COVID-19, the Town’s budget has remained exceptionally healthy,” said Kyle Beauchamp, Director of Corporate Services. “We’ve still been able to withstand the obstacles brought on by the global pandemic and bring back a 0% increase in municipal tax rates to ease any financial burdens on residents and businesses.”
The budget considers the next three years of operating spending as well as capital spending out to 2024. This means that, even considering all of the investment being made into new infrastructure, buildings, and recreation amenities, the Town remains in a healthy financial position.
“We’re pleased to see that even amid a global pandemic we can still balance our goal of 0% tax increases with no major cuts to services,” added Town of Coaldale Mayor Kim Craig. “Early on in the pandemic, Town Council has made a clear commitment to contributing towards the economic recovery of our region and the approved 2021 budget reflects this commitment.”
“Our staff has, wherever possible, attempted to proactively minimize expenses without reducing service levels,” concluded Beauchamp. “We spend a great deal of time reviewing historical spending and making sure our spending reflects our operational needs.”
“A third consecutive year of zero tax increases on residential property is a big deal; it’s not something most municipalities can accomplish,” said Cameron Mills, Manager of Economic Development. “Our residential tax rate remains very competitive, and our taxes on business are amongst the lowest in the region. Even in difficult economic times, Coaldale has managed to attract new families and a lot of private investment, and that’s in large part because people recognize the work that has been done to make this community such an attractive place to live and to do business.”
Official budget documents will be released early 2021.