Armstrong council to discuss proposed 7% tax hike at special meeting

Photo: File photo

Armstrong council will hold a special meeting Monday to discuss the city's 2023 budget.

The 2023 draft budget proposal recommends Armstrong's infrastructure levy be increased from 2.5% to 4.8% to align with the city's asset management plan.

The proposed budget recommends a 7% increase to municipal taxes.

The increase would result in an overall increase in property taxes of $171,955. The non-market change, for municipal taxes only, also results in a $21,293 increase to revenues.

A one per cent increase to taxes amounts to $24,565 in revenue for the city.

The proposed increase equates to $93.10 for the average household and $439.92 for a typical business, assessed at $521,795 and $520,525, respectively.

Many assumptions and decisions affect the financial plan.

The first stage of the process is for council to review the draft 2023 budget.

Council decides how much and where to spend and allocate city resources for the community; the funding resources available must cover those decisions. Staff is responsible to prepare a balanced plan that supports that direction.

Council must adopt the 2023-27 financial plan before May 15.

To read the meeting's full agenda, click here.