Want to learn how your tax dollars support Town operations? Join us for the 2026 Budget Meeting, where Council will review, debate, and approve the Annual Budget amendments as part of the multi-year planning process. Join us November 19, 2025 from 8:00 a.m. to 5:00 p.m. We look forward to seeing you there! Learn more
The budget is our roadmap for investing in the services and infrastructure that make Okotoks a great place to live. It outlines how tax dollars and other funding are used to deliver the things residents count on - like safe roads, reliable utilities, parks, recreation facilities and other essential Town infrastructure.
To keep things clear and transparent, the budget is organized into three main categories:
Tax-Funded – Services and projects supported by property taxes.
Utility-Funded – Water, sewer, stormwater and waste services funded through utility rates.
One-Time Operating Projects – Special initiatives that don’t recur annually.
Both the Tax-Funded and Utility-Funded categories include operating budgets (day-to-day services) and capital budgets (long-term investments like roads and facilities).
2026 Proposed Budget
The 2026 Proposed Budget is all about balance—keeping essential services strong today while preparing for the priorities of tomorrow.
Planning for Progress
Okotoks has been steadily improving how it plans and manages its finances, with a focus on accuracy, transparency and long-term stability. In 2022, the Town introduced its first four-year budget (2022–2025), updated annually to stay aligned with community needs.
Now, as a new Council begins its term, we’re taking a practical next step: instead of jumping straight into another four-year cycle, we’re proposing a one-year transitional budget for 2026. This approach creates a thoughtful bridge between the previous plan and the next, maintaining stability while giving time to set future priorities.
A Bridge to the Future
Think of this budget as a bridge—solid, intentional and built for progress. It supports a smooth transition toward a priority-based budgeting framework, where every dollar is guided by evidence, shaped by community input and aligned with Okotoks’ vision for the future.
Grounded in the Town’s Long-Term Financial Health Framework and the 2022–2025 Strategic Plan, the proposed budget also draws on insights from a comprehensive environmental scan. Together, these elements create a strong foundation for the years ahead.
Review the Budget Items in the Council Agenda Package
2025 Community Priorities Survey (March–April 2025) was conducted by an external consultant. This statistically valid survey gathered community feedback from residents on Town programs, services and amenities, as well as targeted budget questions. The research summarized what we learned from residents and provided insights and recommendations to guide Council and Administration in future decision-making, planning and resource allocation. The survey received 1,213 responses, a 72.6% increase over 2022, demonstrating strong public interest in shaping Okotoks’ future.
Key Findings
63% rated Town programs, services and amenities as good or very good
From May 24 -June 9, 2024, community members were encouraged to share their thoughts on Town service levels to help Council understand what the community feels are the most important services to focus on for the final year of the Town’s four-year (2022-2025) budget. This feedback is being used to help Council and Administration determine whether any service level adjustments are required for the 2025 budget. Visit the budget engagement page to find the What We Learned report and watch the presentation to Council.
The 2022-2025 Budget engagement marked the first budget approved by the new Council elected in October 2021. Information collected from this survey helped inform Council on building a budget based on what the community values most. The results of the survey can be found in the What We Learned report below and demonstrate how public opinion and values are trending over time.Budget 2022-2025 What We Learned Report
Learn about the Budget
This sample tax receipt shows how tax dollars are spent for various services, based on the 2025 budget and using a typical Okotoks single-family residential property assessed at $663,000.
The Town's property tax estimator provides a simple breakdown of how a property owner’s municipal taxes are invested into specific services Okotokians value and use every day, such as fire, RCMP, recreation facilities, roads, parks, transit and more. Give it a try to see a breakdown of how your municipal taxes are invested into these services, based on your specific property assessment!
*please note: currently, the property tax estimator numbers reflect the 2024 budget and property assessments. 2025 budget numbers will be updated in the coming weeks.
There are three steps to determine how much a homeowner is going to pay in property taxes:
01 Budget
In years 2 through 4 of the four-year budget, Council considers a potential budget adjustment. Once approved, this determines the total property tax revenue required for the new budget year.
Read on to learn more about the Budget process.
02 PROPERTY ASSESSMENT
The assessment process begins in July of the preceding year. Property Assessment notices are mailed in January.
Property Tax Rates are established in the 2nd quarter of the year. The tax rate equals the total property tax revenue budgeted divided by the total assessment. Your share of property tax is then calculated by multiplying your yearly assessment (received in January) by this approved tax rate.
Council approved a four-year budget cycle in May 2021 that will reduce the administrative cost to create annual budgets, increase efficiencies in allocating resources, and shift the focus to only the incremental changes that require Council approval. Council then approved the Town's first four-year budget (2022-2025) in December 2021.
As part of this process, Council conducts an annual review to track progress and make adjustments as needed. In 2025, Council extended the existing budget cycle by one year, creating a one-time five-year budget and 2026 the fifth year in the that budget period. This approach creates a bridge between Council’s transition and the Town’s next phase of planning, allowing time for the newly elected Council to develop a new Strategic Plan and for Administration to build a priority-based budgeting process that rests on its foundation.
The Town’s budget is divided into Tax Funded and Utility Funded categories, along with a One-Time Operating Projects category. Both the Tax Funded and Utility Funded categories include operating and capital budget components.
One-time Operating Projects are a single, large-scale expense of more than $100,000 that does not create a long-term or capital asset and is not expected to happen every year. It lies between operating and capital.
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Operating Vs. Capital Projects
Operating and capital budgets each serve a distinct purpose but work together to meet community needs. Both focus on maintaining current service levels for existing programs and services that residents rely on, while also providing the resources needed to support new initiatives.
Operating budget: provides resources for the ongoing day-to-day costs of delivering municipal services to residents:
Sets the revenue and spending levels for all municipal services and programs.
Covers items such as staff salaries, utility costs to run facilities, funding for community events, family support programs, and maintenance repairs to essential infrastructure and vehicles. The operating or current budget is primarily funded from property taxes, though it can also include revenues received from: earnings on our investments, senior government subsidies such as the provincial gas tax, reserves and grants, user fees and charges such as recreation fees, business licenses and building permits, and franchise fees.
Capital budget: deals with costs to develop new infrastructure and amenities and invest in long-term fixed assets required for daily service delivery:
Prioritizes maintenance of current infrastructure through rehabilitation and replacements, such as new water pipeline, rehabilitation of roads, replacement of equipment, new facilities and technology, land and vehicles.
The capital budget is funded by off-site levies (developer paid) and debt servicing will be funded by Town reserves and grants. Each year we will also have projects that are multi-year projects that council has approved.
How is debt used? Using debt to finance capital spending is a practice most businesses and homeowners use. Debt financing is just like mortgages, vehicle loans, and other borrowing tools, that provide the financial capacity to allow borrowers to pay for significant investments over time, as use occurs, instead of saving to pay the entire amount up front.
​What is the 10-year Capital Financial Plan?
The 10-year capital plan forecasts estimated future capital costs. Our capital financial plan is similar to your household plan to prepare to save up to purchase a new vehicle or plan major home renovations in the future.
The estimates outlined in the capital financial plan are placeholder values for the funding expected to be required in each of the nine years. By creating this long-term plan, the Town can better manage finances to prepare for future expenses and tailor projects to meet the changing needs of the community.
Just like a household budget, the plan is a forecast of anticipated costs, which can alter based on trends. Impacts like grant funding, interest rates and inflation, economic conditions, rates of land consumption and growth will all be indicators that may require an adjustment to the plan. Council will still review and approve a yearly capital budget that will direct actual spending for that year.
How does the 10-year Capital Financial Plan help Okotoks prepare for the future?
The Capital Financial Plan is about planning for the future ensuring we have a balance between the pressures of current service and growth. The capital plan will focus on investing in infrastructure in alignment with the Town’s strategic and sustainable priorities. Having placeholders in the capital plan will allow us to understand the capital cost of infrastructure, the impacts of the capital budget on the operating budget, and plan for community amenities and potential grant and sponsorship opportunities.
Watch this video on how the Town Budget works:
Past Budgets
At the Annual Budget Meeting on November 19, 2024, Council accepted amendments to the 2025 year of the Town’s approved 5-year (2022–2026) budget, ultimately delivering a total Operating Budget of $80.386 million for 2025, which focuses on relevance and doing what we heard was important to Okotoks’ residents and businesses.
The result of this budget amendment is that the 2025 property tax increase will be lower than originally forecasted. Additionally, with a decrease in utility rates, the average single-family homeowner in Okotoks (with a home assessment value of $663,000) will see a total increase of only $1.99 per month or $23.88 per year.
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Budget Highlights:
Property Tax Rate
The average single-family homeowner in Okotoks (assessment value of $663,000) will see an increase of $11.21 per month or $134.48 annually in property taxes. This represents a 4.8% increase for 2025, which is lower than the previously approved 5%.
Utility Savings
The 2025 budget amendment includes utility fee reductions of 6.75%. On average, this translates to an anticipated savings of $18.44 on bi-monthly bills, or an annual savings of $110.64 for the average household. These utility changes include:
Curbside recycling will be funded by Extended Producer Responsibility (EPR) as of May 1, 2025.
In May 2025, waste collection will transition to every other week garbage pickup with standardization of 240L garbage carts.
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2025 Utility Rate Changes from 2024 to 2025. * As of May 1, 2025, the waste rate will include garbage, organics and Eco Centre only, as recycling will be funded by EPR (extended producer responsibility)to residents from this point forward.
Fee Reductions
Several licensing fees were reviewed for relevance and are being streamlined:
Council approved service level adjustments for year three and four of the 2022-2025 Budget that results in an Operating Budget of $76.708 million (2024) and $80.480 million (2025) respectively. These adjustments balance affordability with meaningful investments in strategic areas, such as community safety, emergency response and transit services. Council approved a 4.6% property tax rate increase for 2024. The average household in Okotoks assessed at $551,000 will see an increase of $10.27 per month in property tax, this is an increase of $123.24 annually.
Considerable investment was made in Okotoks Fire & Rescue to fund four firefighters to meet committed service response times and to respond to an increasing volume of medical calls. The budget also invested $694,000 in RCMP over the next two years; and $500,000 over the next two years to increase transit services. In addition to the four firefighters, 10 additional staff positions were approved to prepare for growth and delivery of core services and meet gaps in service levels.
Council expressed the intention for an increase to franchise fees for natural gas customers pending Alberta Utilities Commission’s approval. It is an opportunity to increase revenue more equitably, as nearly all customers use utilities, but not all customers pay property taxes. With this change, the average utility customer could see an increase of about $6.82 per month or $81.81 per year.
The 2023-2025 budget presented by Administration on November 23 was approved by Council. The second year of the four-year budget (2022-2025) is positioned to address inflation and economic pressures, maintain the high-quality of municipal services, while advancing health and safety in Okotoks. Administration worked to align funding requests with strategic and operational priorities to allow for continued service delivery for the community and the advancement of Council’s priorities. In doing so, a tax rate of 4.5% was reached; this means residents will see an increase of $9.38 per month or $112.56 per year.
Read the Budget Story: Understanding your municipal taxes
Find easy-to-understand budget highlights and changes that help show where the money is being allocated. Additionally, find out what a typical homeowner’s taxes per year are and how much goes to support specific services like fire, RCMP, recreation facilities, roads, parks, transit and more. It's all broken down in an easy-to-read ‘receipt’ that provides a snapshot of the Town’s programs and services you get for your tax dollars:
The $66M operating budget represents an overall 2.5% increase in the property tax amount, with the average homeowner in Okotoks paying an approximate $58.95 increase per year or $4.91 a month in municipal taxes.
Read the Budget Story: Understanding your municipal taxes
Find easy-to-understand budget highlights and changes that help show where the money is being allocated. Additionally, find out what a typical homeowner’s taxes per year are and how much goes to support specific services like fire, RCMP, recreation facilities, roads, parks, transit and more. It's all broken down in an easy-to-read ‘receipt’ that provides a snapshot of the Town’s programs and services you get for your tax dollars:
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