2026 Draft Budget Approved

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