BOWDEN — Council has finalized the Town of Bowden's 2025 budget and it calls for a one per cent increase in residential and non-residential property taxes.
According to budget documents, that will provide $11,022.31 in additional revenues.
According to Wild Rose Assessments, property tax assessments, which are linked to the value of properties, are likely to increase by seven per cent this year.
It was pointed out that as a result, “an adjustment” will have to be made to the mill rates (the amount of tax paid per $1,000 of assessed property value) to ensure taxes do only rise by one per cent.
As always, the unknown factor is what the education portion of taxes will be. That won’t be known until after the provincial government reveals its budget, likely in late February or early March.
Bowden’s taxation rates and requisitions will be laid out in a bylaw which is expected to be passed in late April or May.
This was the third draft of the town’s 2025 budget.
In the first draft, the gap between revenues and expenditures was $59,250.96. A second draft cut that to $21,960.96.
The third draft balanced the budget.
During an interview with the Albertan, Town of Bowden Mayor Robb Stuart said when all the revisions were done, a surplus of about $2,000 was created.
Documents council considered says a “positive balance” of $2,446.78 was obtained as a result of budget adjustments.
It was suggested that money could be allocated to the town’s emergency management coffers or go into reserves.
When the third draft came up for discussion during council’s Jan. 13 meeting, Coun. Paul Webb noted that there was no increase in money for councillor conferences or workshops over last year’s figure.
Chief administrative officer Arno Glover said that was an oversight.
At his suggestion, council agreed to fix that problem by moving $5,000 initially set aside for LED replacement lights in the museum to the councillor conferences or workshops budget.
“There is no inclusion in the operating budget for any new borrowing expenditure to refinance existing debt or finance land/property acquisitions or finance infrastructure/capital projects,” according to council documents.
It also said no operating revenues will be transferred to capital reserves.
As reported earlier, water rates are expected to rise by 15 cents a cubic metre and wastewater rates to go up by 11 cents a cubic metre. Those changes will go into effect on April 1.
During the interview with Stuart, it was noted that this will be his last town budget, as he has said he won’t seek re-election this fall after 14 years on council.
He was asked how he feels about that.
“The budget just is another daily thing,” he said.
Stuart was pleased that it only took three drafts to hammer out the budget.
“After 14 years of doing this, I remember we used to drag it out for three or four months. Sometimes I remember we didn't get it done until April. So. We're moving way ahead here.”
Stuart said the shorter time period to finalize the budget is due to town staff “fine tuning” the process so it’s more efficient.
