Cypress County will not raise taxes for its residents in an effort to curb costs for ratepayers. The Cypress County Offices in Dunmore are shown Thursday.--News Photo Anna Smith
asmith@medicinehatnews.com
The 2025 budget for Cypress County has been approved, which aims to balance fiscal responsibility with the needs of the growing community.
Most notably, this year’s budget does not include an increase in the tax rate in all property classes. However, Reeve Dan Hamilton notes that as taxes are based on assessments, some residents may see an increase if the value of their property has increased.
“If last time your house was assessed, it was worth $100,000 for example, and two or three years later, it’s looked at and it’s worth $110,000, then your property taxes will go up, because your assessment went up,” said Hamilton, “But the mill rate did not go up.”
This decision was made to be fiscally responsible but to also help balance the rising costs for ratepayers. Hamilton expressed thanks to the Cypress County staff for working to make everything fit within the budget while making this possible.
Overall, the budget, which was approved Tuesday, focuses on maintaining and enhancing essential services, investing in infrastructure and supporting initiatives that foster economic development and community well-being.
Hamilton says there are few major projects slated for 2025, save for some work on bridge files and continued maintenance on the many roadways that go through the county.
Projected revenues are at approximately $48.9 million, with expenses of roughly $38.9 million, resulting in net income of $10 million. That income will be allocated to reserves, utilized for capital projects and combined with external funding to maximize utilization for county residents.
External grants are projected at $6.65 million from the Strategic Transportation Infrastructure Program and Local Government Fiscal Framework.
Everything in the budget, says Hamilton, is ultimately put toward the goal of the “county being an excellent place to live in,” and he feels this reflects that.
Hamilton says council expresses its gratitude to residents and stakeholders for their input throughout the budget process, which helped shape priorities and ensure a transparent, inclusive approach.
The full budget is available on the county website, at cypress.ab.ca/p/finance.
