After a two week delay Okotoks town council approved the 2010 tax bylaw on Monday.

The final residential property tax increase will be 1.77 per cent for the typical Okotoks home, less than the 3.2 per cent increase approved by council in December. The Town has identified the typical Okotoks home as a two-storey, three-bedroom, single family home between 1,500 square feet and 1,800 square feet with a double attached garage assessed at $420,000 last year.

The final bill (including school taxes) for such a residence will equate to $2,546, a $62 increase over 2009.

Coun. Beth Kish said the budget balanced significant improvements to safety in the community and the construction of the 32nd Street bridge with a low tax increase.

“Always keep in mind, included in the budget was a bridge, five firefighters and one (RCMP) officer,” she said.

The assessment values of homes in town dropped by 10 per cent to an average of $378,550 this year. As a result, a property that saw its assessed value drop by more than 10 per cent will see a slight decrease in taxes, while those with a less significant decrease in assessment values will see a slight increase.

Taxes collected by the Town on behalf of the school boards, the Foothills Foundation and the Okotoks Public Library make up one-third of a typical tax bill.

Kish said the requisitions for school tax and from the Foothills Foundation are both up this year.

“We have to realize the tax increase includes the requisitions from the schools, the library, etc.,” she said.

Councillors Stephen Clark and Naydene Lewis voted against the final reading of the bylaw on Monday afternoon. The pair has opposed the budget since the fall over concerns with Town spending.

“My concerns haven’t changed,” said Clark on Monday.

He said taxes have risen by about 11 per cent since the current council took office in 2007 and the Town’s operating costs have risen too high too quickly.

With the economy still lagging, Clark said the Town should’ve tightened spending.

“My point is, and has always been, that we can do better and we should’ve tightened our belts,” he said.

While the bylaw includes putting nearly $4.2 million into its reserve funds, Clark said the amount going into the reserves doesn’t cover the amount it is taking out. Clark said the Town is using $3.6 million from acreage assessment reserves for the 32nd Street bridge and $1 million in operating reserves to cover operating costs.

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