Budget

The provincial education portion of your tax bill is outside of the municipalities control. The municipality collects it and remits it to the Government of Alberta. 

Communities across Alberta have seen the requisition amounts they need to collect increase significantly over the past two years. In Canmore we saw a $5.6 million increase (23%) in 2024, and in 2025 we have a $5.4 million increase (18%). 

What does this mean for your tax bill? Using the same examples provided for the municipal portion, you can expect:

1. the median single detached unit assessed at $1.482 million would see an average increase of $39.80 per month in provincial education taxes.
2. the median residential condo unit assessed at $814,000 would see an average increase of $21.60 per month in provincial education taxes.

The capital budget prioritizes asset management projects related to the maintenance of, or required upgrades to, existing Town of Canmore assets. Other projects related to supporting existing programs and services are given priority over any projects related to new programs or initiatives.

The 2025 budget includes $38.4M in projects and the 2026 budget includes $43.2M in projects. Highlights of 2025 projects include ongoing flood mitigation work focusing on Three Sisters Creek, a new ladder truck for Fire-Rescue, street and pathway rehabilitation, and utility work. 

The utility contains all the revenues and expenses necessary for providing water, wastewater, and waste services to the community. The utility budget is supported by the Utility Rate Model (URM), that is updated during each budget cycle and after a Utility Master Plan (UMP) update is completed.

2025-2026 Rates for Water and Wastewater
To ensure the reserves balances are appropriate in the 5-year horizon, the rates for water and wastewater are updated annually.

• 2025 residential rates will see an increase of 12.9% or approximately $15.28/month.
• 2025 commercial rates will see increases of 12.3% to 13.2%.
• 2026 residential rates will see an increase of 14.6% or approximately $19.61/month.
• 2026 commercial rates will see increases of 14.6% to 14.7%.

2025-2026 Rates for Waste and Recycling

• 2025 residential rates will see an increase of 2.2% or less than $1/month.
• 2026 residential rates will see an increase of 2.3% or less than $1/month.
• Commercial rates will see increases of 4% each year.

On August 22, 2017 the Town's Finance Committee adopted a Long Term Financial Strategy, a document that analyzes the Town’s present capital asset funding financial position and develops strategies and actions to address the calculated funding gap that exists between what is contained in Town planning documents and current financial resources. The Long term Financial Strategy provides guidance for preparing future capital project budgets.

Long Term Financial Strategy

In preparing the 2025-2026 budget, the approach taken was to bring forward a plan representing the continued services and programs at 2024 service levels, while accommodating for growth of the community where required, particularly considering the pace of growth is expected to increase.

Operating expenses have been increased with expected levels of inflation and any new contract pricing for existing work.

Salaries, wages, and benefits include the cost-of-living adjustment (COLA) and equity and market adjustments in accordance with employee pay policies as well as acknowledging Canmore’s cost of living is significantly higher than in other Alberta communities.

Staffing increases in 2025 and 2026 were added where necessary to address strategic priorities, address growth, and to implement the Livability Tax Program and the continued phase-in plan for increases to fire staffing.

Reserve contributions are included in the budget at the recommended levels in the long-term financial strategy and existing practices and policies. A one-time contribution increase was also approved in 2026 for the General Municipal Capital Reserve.

This budget reflects the cost of delivering existing services to the community. As the community grows, we need to determine sustainable service levels that can be reasonably achieved within the tax base. A service level review process has been underway to identify the highest priority areas and resources required to deliver those services and manage expectations. In the preparation of this budget, this information was considered in a preliminary way, and this data is likely to further inform future budget decision making.

As caretakers of the community, the Town of Canmore budgets to fund a variety of programs and services that are either legislated, essential, or approved by Council such as:

• services and practices to keep the community safe
• initiatives that improve sustainability
• outdoor spaces and indoor facilities for residents and visitors to enjoy
• a comprehensive transportation network of streets, roads, bridges, sidewalks, pathways, parking lots, and transit that move us through town
• services that provide recreation opportunities, business supports, special events, social supports, neighbourhood connections, and affordability support services
• waste, recycling, and organics collection, water treatment and distribution, wastewater treatment and collection, storm water management, which are all part of the utility rates
• all the physical and virtual infrastructure as well as the human resources required to deliver these benefits.

• 2025 - 2030 - Budget and Business Plan
• 2024 - Budget Amendments
• 2023 2028 - Budget And Business Plan
• 2022 2026 Budget And Business Plan
• 2021 2025 - Budget And Business Plan
• 2020 - Budget Amendments
• 2019 2024 - Business Plan And Budgets
• 2017 2018 - Budgets And Business Plan
• 2018 - Budget Amendments Addendum Distributed Version
• 2016 - ToC Budget And Business Plan