City approves residential property tax mill rate of 3.61%
Hello Chestermere,
It is my pleasure to be able to present to you another year of great news on taxation. As you may understand, it is rare for municipalities to be able to lower property taxes with increasing populations and demand for services, but due to tremendous fiscal responsibility and stewardship, the City of Chestermere has achieved a truly remarkable feat – another year reducing property taxes.
After undergoing an exhaustive municipal inspection, the City has emerged stronger than ever with prudent financial measures in place. Through meticulous organization restructuring, increased efficiencies, and a reduction in operational bloat, the City has achieved an outstanding $6.2 million budgetary surplus – resulting in unprecedented savings for residents on their tax bill.
This year, the City is pleased to further reduce the residential property tax mill rate to 3.61 – an astounding 25% decrease in the Mill Rate! This surplus is a testament to the diligent efforts of city officials, employees, and community members who have worked tirelessly to optimize resources and streamline operations. By carefully examining every aspect of the city’s functions, we identified opportunities to eliminate unnecessary costs and enhance efficiencies, leading to an unprecedented surplus.
However, while this provides immediate benefits to residents through lower property taxes, the City also recognizes the importance of planning for the future. This surplus will be strategically allocated to a dedicated fund for future projects and initiatives. This prudent financial planning ensures that we have the resources to tackle upcoming challenges and invest in the long-term development and prosperity of our city.
City Council, and administration have worked diligently to provide financial stability in an uncertain time. Our quality of life continues to increase daily with transparency, accountability, and accessibility. As Mayor, I provide my unwavering commitment to building a better Chestermere for everyone – the best of Chestermere is still to come.
Here’s to the future!
Mayor Jeff Colvin
