From the town of Sylvan Lake:
Higher revenues, and fewer expenses have resulted in a 2018 surplus for the town of Sylvan Lake.
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