New policy supports a fiscally sustainable future

Published on Oct 11, 2022

The new policy includes measures to effectively manage financial priorities, simplify financial reporting and supports a sustainable, fiscally responsible future for the County. 

Sturgeon County, AB: The new Regulated Property Tax Policy was adopted at the October 11, 2022, Sturgeon County Council meeting. This new policy focuses on planning for long-term growth by efficiently monitoring the County’s assessment forecast and financial commitments. 

 “We are continuously reviewing and improving our processes,” said Sturgeon County Mayor Alanna Hnatiw. “This new policy supports long range fiscal planning to provide residents with the best possible value for their tax dollars.” 

 Sturgeon County has a unique assessment base with a very high concentration of heavy industrial properties. The Province regulates the assessments of heavy industry developments. This means that County finances are impacted by external factors and events from around the world.  

 The Regulated Property Tax policy allows County Council more flexibility to carefully manage financial pressures the County may experience as the region’s assessment base evolves and projected revenues from heavy industry decrease. The new policy improves forecasting and reporting on heavy industry tax revenues, enabling the County to do more long-range planning to support key priorities and provide residents with quality services. It allows the County to be more agile in responding to new opportunities and navigating increasingly complex economic challenges. 

“This policy helps us prepare for our future,” said Hnatiw. “It allows Council to have accurate assessment forecasts so we can make informed and transparent decisions to create a fiscally sound future for the County. Council is dedicated to ensuring residents, businesses and industry are represented in a fair and equitable manner as our assessment base evolves.”  

This policy replaces the current Significant Tax Revenue Growth policy, which required complex financial monitoring that provided limited benefits.   

Review a copy of the new Regulated Property Tax Policy.

 

Media inquiries:

Rhonda Linklater
Senior Communications and Engagement Officer
587-674-1533
email 

 

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