Devon's annual Operating Budget is an estimate of the revenues and expenditures required to fulfill the operational needs of the Town over the next year. Near the end of the year, Administration and Council work together through budget deliberations to chart out the budget for the next year and ensure service levels are maintained or adjusted as per Council's direction.
Final Operating Budgets are generally presented to Council at their December Regular Council Meeting to ensure the budget is ready to implemented on January 1 of the upcoming year.
Devon Council approved the 2021 Operating Budget at their December 14, 2020, Council Meeting with a 2.62 per cent municipal tax increase for 2021.
For a household with a median assessed value of $308,900, the estimated impact of a 2.62 per cent tax increase is about $48.37 per year or $4.03 per month. Property assessments are based off of the calculated value of a property as of July 1 of the previous year.
Cost-saving Measures for 2021
Maintaining the services that residents expect and enjoy, while reducing the potential tax increase was a top priority of the 2021 Operational Budget. To further reduce this impact, Council approved a number of cost-saving measures including a reduction in training and travel budgets for both Council and Town staff and various reductions in department budgets across the entire organization for 2021.
Devon Council approved the 2022 Operating Budget at their Dec. 13 Council Meeting with a 3.90 per cent municipal tax increase for 2022.
For a household with a median assessed value of $305,000, the estimated impact of a 3.90 per cent tax increase is about $71.97 per year or $6.00 per month. Property assessments are based on the market value of a property as of July 1 of the previous year.
Highlights in the 2022 Capital and Operating Budgets include:
Devon Town Council has approved the 2023 Operating & Capital Budgets and the Three-Year Recovery and Service Stabilization Plan at their Dec. 12 Council Meeting with a 5.67 per cent municipal tax increase for 2023.
For a household with a median assessed value of $322,000, the estimated impact of a 5.67 per cent tax increase is about $113.15 per year or $9.43 per month. Property assessments are based on the market value of a property as of July 1 of the previous year and as such, these are estimated impacts.
2023 Capital Budget highlights
Devon Council approved the 2024-2026 Operating & 2024-2028 Capital Budgets at their Nov. 27 Council Meeting with a 5.25 per cent municipal tax increase for 2024.
For a household with an assessed value of $322,000, the estimated impact of a 5.25 per cent tax increase is about $111 per year or $9.25 per month. Property assessments are based on the market value of a property as of July 1 of the previous year and as such, these are estimated impacts.
2024 Capital Budget Highlights
Some of the major projects included in the 2024 Capital Budget include:
On Nov. 25, 2024, Town of Devon Council approved the 2025-2027 Corporate Fiscal Plan which includes the Town’s 2025 Operational & Capital Budgets.
The Corporate Fiscal Plan outlines several key priorities for 2025-2027:
Factors that have had an impact on the 2025-2027 Corporate Fiscal Plan include:
Capital Budget Highlights
The 2025 Capital Budget was approved on Nov. 16, 2024, and focuses on infrastructure upgrades and community enhancements.
Key projects in the Capital Budget include:
On Dec. 8, 2025, Town of Devon Council approved the 2026-2028 Corporate Plan which includes the Town’s 2026 Operational, Capital & Utilities Budgets.
Council started budget deliberations facing a potential 7 per cent tax increase, however after two days of thoughtful discussion with Administration, Council reduced this to 4.98 per cent broken down between a general tax increase (2.98%) to support maintaining service levels and managing increased operating costs and a dedicated asset lifecycle levy (2%) to provide a stable funding stream for repairing and replacing aging municipal infrastructure.
Residential Impact per $100,000 Assessed Value
In 2026, for every $100,000 in assessed property value, a residential property will pay about $733/year in municipal taxes, $289/year for the Provincial Education Requisition and $12/year for the Leduc Regional Housing Foundation Requisition.
In total, households can expect an increase of about $45/year per $100,000 of assessed value. This means a property assessed at $400,000 would see about a $180/year increase on their property taxes. Property assessments are based on the market value of a property as of July 1 of the previous year.
“We entered this budget facing real financial pressures and Council & Administration worked hard to deliver a responsible plan that supports our residents today and sets Devon up for success tomorrow,” said Mayor Craddock. “This Corporate Plan keeps our service levels strong, invests in aging infrastructure, and positions us to manage future challenges with confidence.”
Operating Budget Highlights
Revenue for the Town’s Operating Budget comes from many sources including user fees, franchise fees, property taxes and grant funding.
The Corporate Plan outlines several key themes including:
Factors that have had an impact on the 2026-2028 Corporate Plan include: