A draft of the 2015 City of Cold Lake budget has been released. Over the past 3 years, council has met their tax mandate of keeping taxes flat with a 0 % increase. The mandate came after Cold Lake endured one of the highest tax increases in the province, and even in the country from 2007 to 2010. Once the 2015 budget is finalized, those residing in Cold Lake will notice a 3 to 3.5 per cent tax increase and a utility rate increase of about 6 per cent. City of Cold Lake Mayor Craig Copeland says there’s a number of key contributing factors in the upcoming tax increase, including the cost of snow removal and overall contracts on the operational side of maintaining the city. City Council will meet on December 9th to review the 2015 draft budget, and if satisfied, the 2015 budget will be passed.
