In the Spring of 2024, we asked residents what was most important to them when it comes to city services and budget. You can read more about the results of this engagement in our What we Heard Report. As we move closer to our budget debate in November, we need to dig a little deeper - The City is facing a $17-19 million shortfall in the operating budget and we're looking at all avenues to close this gap. We want your ideas and thoughts. Here's what you need to know:

• Property taxes are an important revenue for The City. They help pay for the municipal services Red Deerians rely on everyday. Check out our Budget 101 series to see how your tax dollars fund these services.
• $17-19 million is needed to balance this year's operating budget; this is a significant shortfall, and a number of factors have led us here. Check our financial profile to learn more.
• 24 budget change concepts were identified and will go forward in the final budget submission for consideration; these represent a possible $3.4 million in savings. You can read more about these here.

Property tax increase scenarios based on assessed value and tax revenue

Property tax is just one option City Council has at their disposal to balance the budget. This chart outlines possible monthly tax increases based per $100,000 of assessed property value based on three different tax revenue scenarios: $17 million, $18 million and $19 million. These scenarios are estimates only at this point and final decisions will not be made until the budget is debated November 18-22, 2024.