Sylvan Lake residents have been given more time to mull the municipality’s spending plans for next year.
Town council opted on Monday to hold off approving the budget until its Jan. 14 meeting. Instead, an interim budget was passed to cover operating expenses until then.
Mayor Susan Samson said the town recently sent out a brochure outlining the town’s draft budget of $28.4 million, with a proposed 2.4 per cent municipal tax rate increase.
Most homeowners would have received the brochures last week.
“We felt we hadn’t given our residents ample time to give us feedback so we weren’t comfortable passing the budget (Monday) night,” said Samson.
Most residents will see a small increase in municipal taxes next year.
Given that property assessments have dipped slightly in many cases, the town is estimating a typical house owner whose property was assessed at $297,000 will see their municipal taxes go up about 1.3 per cent. That would boost the bill to $1,583.90, an increase of $21.50 over 2012. A recreation levy of $61.18 is also added to bills.
The town’s capital budget is projected at $11.6 million.