Olds council has decided to maintain the “status quo” when it comes to this year’s tax rate bylaw.
Mayor Dan Daley highlights the fact that they will be keeping the tax rates the same as 2025. He says “with that then we can balance our Operating and Capital Budgets for the upcoming year, as well as put over $500,000 into our reserve account for future projects and infrastructure upgrades.” The 2026 Tax Rate Bylaw received second along with third and final reading on Monday, April 28th.
It is estimated that the impact of the tax rate will be a little less than $22 per month for an average residential property. Mayor Daley says “any tax bill in Town is comprised of a number of different parts to it. One of them is the municipal tax rate which is money that comes to the Town of Olds for our services and our project that we do here. Then of course you have your education tax and that education tax goes directly back to the province again. We collect that on behalf of the province and then we have got the Mountain View Seniors’ Housing requisition which helps support our seniors’ housing here in our community. Within the municipal tax part that we collect is what we pay for the RCMP services here in Town which is just over $2 million, I believe, that goes back to the federal government to fund that organization.” Increases are being felt by the Town for both the school and seniors housing requisitions.
An operating budget adjustment of just over $535,000 dollars for reserve transfer was also approved by Olds council this week.
