The 2020 interim budget is $4.3 million. This consist of $1.74 million (40.4%) in property taxes, $562,830 collected for School/ Senior Housing (13.1%), $1.29 million collected Utilities & Services (39.9%) – Water, Sewer, Garbage and user fees.
Town receives $436,686 (10.0%) in grants – Federal/Provincial/Local Government, $205,567 in Power & Gas Franchise fee (4.8%), and $78,000 (1.8%) in Interest and Penalties.
2020 interim budgeted financial expenses are:
|School / Senior Housing||562,830|
|Public Works & Streets||532,797|
|Recreation & Community Services||345,596|
|Safety & Bylaw Enforcement||358,893|
|Professional Service – Assessment/ Audit/ Solicitor/ Engineers||38,200|
Capital Projects 2020
|Railway Ave, Street Rehabilitation||Provincial/ Federal Grants||$265,000.00|
|Water Meter (Electronic Head) Replacement||100% Water Reserve||$220,000.00|
|East Cemetery Road, 50th Ave-Rehabilitation||General Reserve||$5,000.00|
|Sanitary Sewer Lift Station||Provincial/ Federal Grants||$870,448.00|
Note: Only $5,000 of operating taxes used in 2020 for these capital projects
Real property is assessed in accordance with MGA Part 9, Division 1. Elk Point’s Property Assessment is based on a July 1 market value (the year prior to tax year) and is determined each year based upon market sales by contractor, Wainwright Assessment Group, phone number is 1 (780) 842-5002.