Okotoks Council Approves $80.386 Million 2025 Budget with Lower Property Tax Increase

November 20, 2024 Catherine Williams Business
News Context
At a glance
  • The Town of Okotoks has updated its budget for 2025, approving an Operating Budget of $80.386 million.
  • The revised budget will lead to a lower property tax increase than previously expected.
  • Mayor Tanya Thorn stated, “Administration worked hard to find ways of maintaining the service levels that mattered most to our community, balancing the impacts of inflation.”
Original source: okotoks.ca

The Town of Okotoks has updated its budget for 2025, approving an Operating Budget of $80.386 million. This budget adjustment reflects the needs and preferences of local residents and businesses.

The revised budget will lead to a lower property tax increase than previously expected. Homeowners in Okotoks will benefit from decreased utility rates. A typical homeowner with a house valued at $663,000 will see an increase of just $1.99 per month, or $23.88 per year.

Mayor Tanya Thorn stated, “Administration worked hard to find ways of maintaining the service levels that mattered most to our community, balancing the impacts of inflation.”

For the fourth year of the budget, the focus is on preserving essential services while also considering support for local businesses. The main goal is to keep most services at current levels while implementing changes that will save money for both residents and businesses.

For more details about the 2025 budget highlights, click here.

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