Stony Plain residents will be seeing the lowest tax increase they’ve seen in eight years. Taxes are expected to increase by approximately 2.74% for 2018 after Town Council adopted the final version of the 2018-2020 Corporate Plan at the Regular Council meeting tonight. Council debated the document and directed Administration to make a few changes after two days of discussion earlier this month.
Mayor William Choy says, “Every year there are a number of tough decisions to be made, but Council keeps its vision with the Strategic Plan in mind and the needs of our Community allowing us to make these choices.” Choy goes on to say, “Administration worked methodically to prepare this document and Council is proud of the final outcome.”
Taxes are expected to increase by approximately 2.74%. This increase is projected to be approximately $1.33 per month to a household for every 100,000 in assessment. The total approved operating revenue for 2018 is $36,908,011 and expenses of $40,851,443, including $6,493,295 of unfunded amortization. The approved capital expenditure for 2018 is $12,639,584 including $2,390,978 in contributed capital assets from developers.
Highlights of approved 2018 expenditures include:
“It’s a balancing act to make sure we continue to provide the resources the Town needs for services, but also keeping our fiduciary accountability in mind,” says Mayor Choy. “We’ve passed this budget to ensure we see continued investment, development and overall success of Stony Plain.”
The following chart shows the potential annual impact of the proposed 2018-2020 Corporate Plan on the residential ratepayer based on $100,000 in assessment per month:
Potential Impact of proposed tax increase on Ratepayers
“Stony Plain remains to have one of the lowest tax rates in the Capital Region. And we haven’t had a tax increase this low since 2010. The Town continues to exceed at handling our funds while providing the amenities our residents deserve.” says Mayor Choy.
The Corporate Plan is a three-year document. This gives Council the opportunity to look at the operations and capital on a more strategic level, providing Council the authority to add, remove or move up initiatives. It supports the Town’s Strategic Plan, Corporate Business Plan and Departmental Business Plans. The financial requirements include revenue, expenses and tangible capital acquisitions associated with the delivery of services, new initiatives and service changes for 2018 to 2020.
To see the three-year Corporate Plan in its entirety visit www.stonyplain.com.
For more information, contact:
Stephanie Barsby Boisvert
Corporate Communications Officer
Town of Stony Plain
Manager, Strategic Services
Town of Stony Plain