Drayton Valley town council passed the 2025 Budget at their regular meeting on Wednesday, Dec. 11, and it comes with a modest tax rate increase.
Council, however, says significant cost savings on insurance as well as an increase in franchise fees and interest revenue has allowed them to present a balanced budget that focuses on infrastructure projects, community beautification, community safety and customer service.
This budget includes $31,087,498 in operational funding and $23,139,261 in capital expenditures which officials say will be largely funded through grants, reserves and debentures.
Image from the Town of Drayton Valley Facebook page
Officials say the municipal tax rate for commercial properties will not be increased in the 2025 Budget but residential properties will see an increase of two per cent.
This works out to an average increase of $12.47 per month or $149.64 for the year. However, a final decision will be made in the spring of 2025 once the property assessment has been completed and reviewed.
Details on the 2025 Budget can be found on the Town of Drayton Valley website.
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