On Wednesday evening Strathmore Town Council approved the Property Tax Rate Bylaw.

Members voted to set the property tax rate increase at 5.6 per cent.

The funds will support municipal services, including roads and infrastructure, community safety, and essential programming.

According to the town funds collected through property tax are split between the Town of Strathmore, the Government of Alberta and Wheatland Housing.

The town retains 73 per cent of the property taxes collected to support municipal operations, while 26 per cent is given to the Government of Alberta to support education and 1 per cent will be used to support Wheatland Housing.

Staff with the town say this year the average residential single-family assessment increased by 16.3 per cent, which is up from $368,000 in 2023 to $428,700 in 2024.

Council stated that there was a higher-than-expected request from the province and the Wheatland Housing Management Body. Because of this council amended the 2024 Operating Budget by increasing the transfer from the Financial Stabilization Reserve by $202,100.

Strathmore Mayor Pat Fule says, “Property taxes enable the town to continue to deliver quality services to the community. During deliberations, council was focused on balancing our need to invest in our infrastructure and fund the programs and services that our residents rely on, with our desire to minimize the financial burden on residents and businesses.”

Town administration will now prepare the 2024 property tax bills to be mailed to property owners during the last week of May.

Payments are due by no later than June 30.