RVC Unveils 2024 Draft Budget with 3% Tax Increase

In a move to address inflation and support community growth, Rocky View County (RVC) has released its 2024 Draft Budget, featuring a 3% property tax rate increase. This increment, anticipated to generate approximately $2.66 million, is crucial for offsetting rising municipal costs, meeting regulatory requirements, and advancing the Council’s strategic objectives. The budget, set for council discussion on November 15, is a delicate balance between community needs and financial stability.
The proposed operating budget details a total revenue increase of around $4.66 million. This figure combines the 3% tax hike with a $2 million boost from assessment growth linked to new construction. The additional funds are earmarked for handling growth-related expenses and inflationary pressures. The budget outlines the expected departmental costs and revenue growth, with a net revenue-expense increase of nearly $4 million.
For capital expenditures, the 2024 plan includes 20 projects totaling $19.4 million, of which $499,000 will be tax-funded. RVC emphasizes leveraging external funding like federal and provincial grants to minimize tax burdens for capital projects. Notable projects include a $2.2 million capital fleet replacement and significant investments in road construction and community facilities. Looking ahead to 2025, the county anticipates capital projects worth over $45 million.
The 2024 draft marks a progressive step with the inclusion of a three-year operating plan and a five-year capital plan, reflecting a commitment to transparency and long-term planning as mandated by the 2015 Municipal Government Act amendment. This budget also introduces detailed department cost profiles and enhanced utility service reporting, offering residents a clearer picture of municipal spending.
RVC encourages community involvement in the budgeting process. Residents can present their views at the Special Council Meeting on November 15 or submit written comments by November 7. The council will deliberate on the operating and capital budget for 2024 on November 22. The county had previously sought public feedback through a survey and community forum, which influenced the current draft