Sylvan Lake Town Council allocates 2018 surplus
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Higher revenues, and fewer expenses have resulted a 2018 surplus. As a result of the surplus, Council approved the following amendments to the proposed 2019 budget:
- A reduced 2019 residential tax rate, from the proposed 2.74%, down to 1.9%
- A reduced 2019 non-residential tax rate, from the proposed 2.74% to 0%
- The reallocation of $237,000 towards the Sylvan Lake Spray Park Project
- A one-time allocation of $100,000 towards an Information Technology (IT) Sustainability Fund, to address IT service level gaps
“Economic Development continues as a strategic priority for us. As a Council, we understand the challenges that our business community is facing, given the economy in recent years. With an adjustment to our 2019 non-residential tax rate, we are reinforcing our commitment to local business retention and attraction.
Council is also happy to approve a decrease to the proposed 2019 residential tax rate; looking to 2019, we are shifting our focus to improving customer service.”
– Mayor Sean McIntyre, Town of Sylvan Lake