Funding of reserves could lead to 4.7 per cent raise in property taxes

High River residents could be staring down a roughly 4.7 per cent property tax increase this year, following town council’s decision Monday to add $750,000 to the depleted capital reserves fund.

Town staff says growth and property assessment adjustments already freed up an additional $275,000 to direct to the reserves, but to accomplish council’s directive, an additional $475,000 will have to be drawn from increasing tax rates.

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