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Posted on: December 11, 2018

2019 BUDGET FOCUSES ON INFRASTRUCTURE AND CONNECTIVITY

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The 2019-2021 budget addresses current infrastructure projects and builds reserves for future infrastructure needs to support our growing community.

Town Council approved the 2019 budget at their meeting last night, with a 2.98% property tax increase.

Mayor Jeff Genung is satisfied the budget addresses current and future needs. “This budget continues to invest in our community, saves for the future and provides an on-demand transit system,” he says. “I believe this budget respects the economic reality of our community, while still positioning the Town for the future.”

Based on the approved budget, a home valued at $481,410 should see an increase of $5.44 per month, or $65.28 for the year in municipal property taxes.

The approved budget continues current work and provides funding for upcoming projects:
•    new bridge across the Bow River
•    on-demand transit starting in September 2019
•    pathway connections from Sunset Ridge to the Cochrane Ranche, and Spray Lakes Family Sports Centre (SLSFSC)to the Jim Uffelmann Memorial Park
•    upgrade to George Fox Trail
•    design to widen Centre Avenue at Highway 1A
•    fibre deployment to SLSFSC
•    pedestrian crossing between Heartland and West Valley
•    purchase of a quarter section north of Heritage Hills for sports fields
•    addition of one new RCMP member
•    7.5 new staff positions

There are a few items not covered in the 2019 budget but planned for 2020: Cochrane’s new RCMP detachment, an upgrade to Jumping Pound Trail pathway and a pedestrian crossing between historic downtown and the Cochrane Public Library/Quarry shopping area.

The municipal tax rate is combined with the provincial education tax rate to determine total property taxes: assessed property values are multiplied by the total rate to determine the total tax bill. Municipal tax rates are set in the spring; property tax bills are mailed in May.

Town administration presented the draft budget October 22. The community gave feedback between October 22 and November 14, and Council deliberated the draft budget and made revisions at special meetings on November 15 and 16.

More details on the budget can be found at cochrane.ca/Budget.

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More details: cochrane.ca/Budget
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