Parkland County Council approves 2023 budget

PARKLAND COUNTY, AB – This week, Council approved a disciplined operational and capital budget for 2023, keeping tax rates competitive while continuing to fund important investments in regional infrastructure. With a 2.78% increase to the municipal tax levy, the average residential property owner will see a property tax increase of $7.67 per month.

“Parkland County continues to rank among the most competitive property taxes in the region,” said Mayor Allan Gamble. “We are proud to approve the 2023 budget, which includes investments of over $50 million in strategic areas to attract investors, promote tourism and improve quality of life for our residents. We are advancing the County by expanding broadband internet capabilities, while also connecting Parkland Village and Acheson through convenient On-Demand Transit and maintaining our existing roads and infrastructure.”

“Budget 2023 reflects the great resident feedback we heard in our Budget Engagement Survey. It allows Parkland to continue to make great financial strides while we confront the challenges of declining linear property assessment, high inflation and significant cost sharing pressures.”

Overall, Parkland County’s 2023 budget contains a municipal tax requirement of $69.66 million, which is $1,884,200 more than the 2022 budget and represents a 2.78% increase in the municipal tax levy. Through financial diligence, the County has maintained high Net Financial Assets of $88 million, and the County’s debt utilization will be 34% of total allowable debt.

“The 2023 Budget provides residents with reasonable and consistent tax rate adjustments, ensuring that we can maintain service levels for residents and move the County forward at a sustainable pace,” said Parkland County CAO Laura Swain. “Prudent budget decisions ensure the County remains in a strong fiscal position and helps to keep taxes low, now and in the future.”

Budget 2023 Background:

• Parkland County’s 2022 Budget Engagement Survey gave residents and businesses the opportunity to have their say on how funds are prioritized within the County. Nearly 1,500 people participated, and the results were shared with Council to help shape the 2023 budget, as well as future budgets and decision making.

• Based on the numerous survey responses, Council prioritized High Speed Internet and Road Maintenance as top initiatives. In the 2023 budget, $8 million is allocated to the County’s broadband initiative and $12 million is dedicated to the Road Rehabilitation and Reconstruction program.

• The tax impacts on each taxpayer will be different depending on the assessed property value change for the taxpayer. The average residential property owner will see a property tax increase of $7.67 per month. The median commercial/industrial property located in Acheson will see an increase of $164.92 per month. The municipal tax increase is largely driven by the decline in the County’s linear property assessment values, inflation, and cost sharing pressures.

• The 2023 municipal operating program budget includes $23,899,900 in revenues (other than taxation); $91,028,300 in expenditures; and a municipal tax requirement of $67,128,400.

• The 2023 municipal operating project budget includes $1,787,500 in revenues (other than taxation) $2,283,500 in expenditures, and a municipal tax requirement of $496,000.

• The 2023 municipal capital budget includes $44,812,300 in revenues (other than taxation); $46,849,800 in expenditures, and a municipal tax requirement of $2,037,500.

• The final municipal tax rate for 2023 will be approved in April 2023. Alberta municipal property tax notices include items beyond the municipal requirement reflected in the budget presented to Council, including the seniors requisitions and the school portion of property taxes, which the County collects on behalf of the province.

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For more information about this advisory, please contact:

Communications

communications@parklandcounty.com

Attachments

Budget Media Release