Spruce Grove’s strong growth has positively impacted the City’s budget, as outlined in the 2024 Spring Budget Adjustment that was approved by City Council last week.

Last year, Spruce Grove reached a population of nearly 39,000 people and had a record-setting year in building permit values. The city has continued to experience similar growth in 2024, resulting in additional revenue which will be used to increase the City’s capacity to invest in and deliver services to the residents and business owners who have contributed to the growth.

"This is extremely welcome news and demonstrates how our incredible growth is benefiting both the City and our residents," said Spruce Grove Mayor Jeff Acker. "It shows us that Spruce Grove is not only a city where people want to live and work, but also an attractive place for businesses to invest. Through this growth, we can continue to serve our community by investing in the City’s long-term sustainability while responsibly managing this unanticipated revenue."

This year’s assessment growth results in an additional $593,000 in property tax revenue for 2024, surpassing initial forecasts by reaching 4.03 per cent in assessment growth compared to the 2.86 per cent projected in the 2024 budget released in December. A portion of the additional revenue will be leveraged to reduce the forecasted tax rate from 5.12 per cent back to the 4.9 per cent that Council committed to when the interim 2024-2026 Corporate Plan and 2024 budget were approved in December 2023.

"Through the spring budget adjustments, we are upholding the tax rate we committed to last year," said Mayor Acker. "It is important that we as a Council maintain a consistent and transparent approach to property taxation."

There has also been an increase of $350,000 in permitting revenue expected this year, which illustrates economic activity and ongoing investment in the city. The additional revenue will fund three new positions dedicated to improving permitting timelines and addressing the increased demand for service, benefitting builders, developers and residents.

Spring budget adjustments provide an opportunity to finalize the budget prior to setting the property tax rate for the year. Amendments to the budget are typically related to expected ongoing changes in growth projections and other revenue sources, and changes to ongoing operating expense items that are funded by the municipal tax requirement.