DID YOU KNOW

1) Link to amplifier: Subscribe for Town Alerts and More | Town of Olds
2) Town partnerships: Partnership | Town of Olds
3) In 2021, the Town residential general municipal mill rate was 5.8414. in 2024, the residential mill rate was 5.9511
4) In 2021, the non-residential general municipal mill rate wa 8.1285. In 2024, the non-residential mill rate was 8.1419
5) Tax increases the last 3 years in particular, have largely been driven by increasing property assessment. Over the past 3 years, residential assessments have increased approximately 25%; non-residential assessments have increased 2%.
6) In 2024, building permit stats were $31.1M and 130 starts, as compared to 2023 with $17M and 29 starts.
7) 2024 development permits were $44.6M vs $14M in 2023

8) At 2024 year end, the town used approximately 65% of allowable debt at a cost of approximately $2 million in principle and interest payments.

Among similar towns in Alberta, Olds has one of the highest debt utilization rates; most comparable sized towns use between 12-40%. Comparable Mountain View county towns’ debt servicing is between $400-$800k.