Canmore Approves 2026 Budget With 6.7% Tax Increase, Adding $142 to the Average Home

CANMORE - The Town of Canmore has approved its 2026 operating budget with a 6.7% property tax increase, a figure that is slightly lower than what had been forecast earlier in the year. For a typical home assessed at about $1.076 million, the increase amounts to roughly $142 in municipal taxes next year, or about $12 per month.

The finalized number comes after several weeks of revisions by administration and the finance committee. Staff discovered higher expenses in some areas and savings in others, which helped reduce the tax increase from the previously approved 7.1%. According to town documents, expenses for 2026 grew by about $438,000, which included a higher cost of living adjustment for municipal staff and new operating costs tied to the Cougar Creek debris retention structure. At the same time, municipal taxes were reduced by about $144,000 and other revenues increased by roughly $583,000. Those changes combined to bring the overall tax increase down.

One of the biggest adjustments came from the RCMP contract. Updated figures from the federal government showed that policing costs will be about $100,000 lower than originally expected. The town also saved money after delaying planned debt payments for the snow management facility because the borrowing was not needed in 2025. That deferral shifted repayment to 2027 and reduced next year’s expenses.

Not all cost pressures moved in the town’s favor. The cost of living adjustment for municipal employees rose to 2.5% after updated inflation data was released. Utilities and several departmental operating budgets also shifted as new numbers came in late in the budget cycle. The Cougar Creek debris retention structure added more than $60,000 in new operating costs that had not been included in the first version of the budget.

The finance committee added several items to the budget before it went to council for approval. These additions included a $10,000 increase to the community grant program, $2,000 for the annual Canada Day pancake breakfast, and funding for a new government relations advisor position. Together these items added about $231,000 in tax funded spending and brought the final tax increase back up to 6.7 percent.

The town’s total tax levy for 2026 is now set at about $50.4 million. The final document reflects a balance of rising operating costs, shifting external contracts and small adjustments made near the end of the process.