2026 Budget

• There is no tax rate increase in 2026; this is what you would refer to as a ‘0%’ tax increase

• This compares to a 0% tax increase in 2025, and a 5.38% tax increase in 2024

• Not exactly. While there is no change to the municipal tax rate, Lakers will still see increases on the tax bills in 2026

• Property Assessment values have increased by 7.5%, on average

• Education taxes have increased by 18.2%

• Both will result in additional taxes Lakers will pay in 2026

• The Town has no control over property assessment valuations or education taxes

• While the Town is responsible for preparing assessments, Sylvan Lake, like many municipalities, uses independent, third-party assessors who are trained and regulated to ensure consistency and fairness. Assessors must follow provincial legislation under the Province's Municipal Government Act

• If values go up, you will see increases. If values go down, taxes typically decrease. Not every property sees the same increases or decreases, so there’s no flat rate that each property pays

• Alberta municipalities must use a method called mass appraisal, which is a provincially regulated method of valuing many properties at once. It uses standardized methods, common data, and statistical testing

• Rather than valuing each home individually, assessors analyze market data such as recent sales, property characteristics, and neighbourhood trends, then apply the same valuation models to comparable properties

• This approach is set out in the Municipal Government Act and the Matters Relating to Assessment and Taxation Regulation, and is supported by provincial guidelines to maintain fairness and accuracy

• Not every property sees the same increases or decreases, so there’s no flat rate of assessment change that each property

• Your property taxes are calculated by:

• Property Assessment × Tax Rate = Property Taxes Owing

• Due to the increase in assessment values, overall taxes increase even without a tax rate change

• With higher assessment values, the Town can keep the municipal tax rate down, and still maintain service levels and operations for the community

• Education taxes are managed by the Province of Alberta. They set the rates each spring and are based on the amount of money the Province needs to fund public education in Alberta

• The Town has no authority over education tax rates or how that money is spent

• With increases to the education tax, the average property in Sylvan Lake will pay approximately $162 more in 2026

• If you really want to dive deeper into property assessment and taxation in Alberta, you can you read this document from the Government of Alberta that goes into a lot of detail about how this all works

• Lakers have been very open about they want to see in their community, so Council is making that a priority. On top of maintaining service levels in 2026, Lakers can look forward to

• Improvements to the waterfront, including the beach and Lakeshore Drive

• Four additional officers with more emphasis on enforcement of bylaws

• Washroom renovations

• Increased garbage capacity

• Additional staff (1 F/T, 4 P/T) to handle garbage collection, washroom maintenance and general lakefront maintenance

• Water infrastructure enhancements to maintain and expand water capacity throughout the community

• Security system and camera upgrades in the community and at Town facilities

• Additional resources to support local businesses and encourage further investment in the community

• Join us at the Budget Open House. Council and staff will be on hand to answer your questions

• Thursday March 19

• 4:00 PM – 7:00 PM

• NexSource Centre

Council approved the 2026 capital budget at the December 9, 2025 Regular Meeting. Section 242 of the Municipal Government Act requires a municipality to adopt a capital budget for each calendar year prior to January 1 of each year. Deliberation of the 2026 capital budget and 10-year capital plan by Council took place on November 18, 2025 and December 2, 2025

The Capital budget for the Town of Sylvan Lake in 2026 is $20,835,200. Capital project highlights include:

Vehicle fleet replacements

• Emergency services (Fire, Municipal Enforcement)

• Public works (beach tractor, town trucks)

• Lagoon reclamation

• Water main connections to Beacon Hill

• Additional supply wells and water mains

• Pogadl Park Development, including:

• Synthetic turf field (football/soccer use)

• Pickleball courts

• Parking lot and entrance road paving

• Ball diamond upgrades

• Centennial Park Washroom upgrades (additional stalls, upgraded for year-round use)

• Cemetery signage and beautification

• Skate Park maintenance

• Trail wayfinding signage

• Fitness equipment replacement at NexSource Centre

• Culture & Art projects (Art & Mural installations)

• 50 Street to 48 Avenue & 50 Avenue realignment

• Memorial Trail to 60 Street

• Final Development of Herder Drive

• Street Rehabilitation program

• Wildrose neighbourhood

• Asphalt removal

• Curb and sidewalk repair

• Roadway structure repair