While avoiding a tax hike, Lethbridge city council has chosen to maintain operations of LDE by using a contingency fund and surplus budget dollars until at least 2027.
Justin Sibbet reports.With the doors remaining open on the Agri-Food Hub and Trade Centre, residents had been facing a 2.24 per cent jump in property taxes for next year. However, council voted against city administration’s recommendation, instead using existing budget to ensure taxes remain in place. There will be a 5.1 per cent increase for 2025, but that was approved in 2022 and is unrelated to the operation of LDE .
“There’s a way we can find efficiencies, cost-savings, without doing service reductions. So, that’s something I think our administration has heard loud and clear. We’ll look at that over the next couple years, but it gives us that opportunity to try to find those cost-savings. So, the possibility of not having to look at a tax increase, if we’re able to find cost-savings in that time,” said Hyggen.
“With council’s green light to move ahead, we are going to really zero in on our future revenues and work hard to build those up in both the short and long-term years,” said Kim Gallucci, acting CEO of Lethbridge & District Exhibition.However, the decision to keep LDE alive without a tax increase has left the city’s rainy day coffers a little lighter. This leaves the future budget uncertain.
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