The budget is the plan for how tax dollars and other funding will be allocated to provide the services Okotokians count on, as well as to build and maintain roads, recreation facilities and other important Town infrastructure. Aligned with The Town's Strategic Plan, the budget consists of operating and capital budgets.
The Town has made steady progress to strengthen its budgeting process with a clear focus on accuracy, transparency, and long-term financial planning. In 2022, Council approved its first four-year budget (2022–2025), with annual updates providing accountability and alignment as community needs evolved. As the newly elected Council begins its term in late 2025, this commitment to progress continues with a practical step forward. Rather than immediately launching into a new four-year budget cycle, Council chose to adopt a one-time, single-year budget for 2026. This approach creates a thoughtful transition period that bridges the previous financial plan to the next, maintaining stability today while preparing for the priorities of tomorrow.
2026 Budget Meeting
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. Budget details will be available starting November 13, 2025.
Date & Time: November 19, 2025 | 8:00 a.m. – 5:00 p.m.
Attend in person: Okotoks Council Chamber (5 Elizabeth Street) or Watch Online
Community Engagement
2025 Community Priority 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 to 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.
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 of Okotoks’ budget is divided into two categories: Municipal and Utility. These are further subdivided into the operating and capital budgets as illustrated below:
The two types of budgets—operating and capital—are very distinct and both are reflective of maintaining current service levels for existing programs and services critical to the community, as well as additional resource requirements for new initiatives.
How does the Town fund its Capital Budget?
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 the capital budget structured?
The budget shows the total capital expenditures. It also outlines the funding sources for proposed capital projects including off-site levies, reserves, grants and debt.
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.Operating Budget
How is the operating budget funded? 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
franchise fees
10 Year Financial Plan
​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.
Image
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.
Image
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:
_0.png)
