Town of High River Council Approves 2024 Municipal Budget and 3.3% Tax Increase
by Town of High River
22/01/2024
Business Community Council Municipal Assessments and Property Taxes 2024 Budget
HIGH RIVER – On January 22, 2024, High River’s Town Council approved the 2024 Municipal Budget with a 3.3% tax increase and zero percent increase in utilities. This is a slight increase over 2023’s tax rate of 3.1% and is once again offset by a transfer from the Town’s Tax Stabilization Reserve Fund. This fund was created with funds remaining from $4.3 million in government support during the COVID-19 pandemic.
“Council has approved the 2024 Municipal Budget, placing a high priority on keeping taxes affordable for residents,” said Mayor Craig Snodgrass. “When we created the Tax Stabilization Reserve Fund, our intention was to make sure residents would benefit directly from government support funds that remained following the pandemic. As a result, the 2024 budget ensures the Town can continue to provide exceptional services and programs, and Council can continue its work to accomplish priority projects.”
A 3.3% tax increase means an average of $81 per year or $6.75 per month, per taxable property in High River based on the average assessment value of $445,000.
The Town continues to sit in a solid financial position. A transfer of $645,000 from the Tax Stabilization Fund reduces the municipal tax increase and will help cover estimated total spending of:
- $32.985M for Operating activities and
- $24.11M for Capital activities.
Council updated its Strategic Priorities in December, 2023. Reviewing and updating strategic priorities helps guide decision-making and streamlines project management, ensuring thoughtful and wise management of the Town’s finances.
The top five projects going into 2024 are below, with three new projects identified.
- Town Plan – Community Consultation
- Aquatic Facility Expansion – Detailed Design
- Town Farm Site Layout and Outdoor Rink (new)
- 112 Street East Area Structure Plan – Define Scope (new)
- Water Strategy – Define Scope (new)
Visit the Town’s 2024 Municipal Budget web page for more information. The January 22, 2024, Council Budget Request for Decision Package also provides an outline of the 2024 Municipal Budget, with a list of 2024 Capital and Operating projects.
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For more information: Town of High River |
Media Contact: Craig Snodgrass, Mayor |