The impact of sky-high inflation has been driving up the price of goods throughout the year – everything from a household's grocery bill to how much it costs to fill up the tank have reached eye-popping levels in 2022.
As this week's House and Home feature highlights, there are a few strategies families can consider to save on their utility bills this winter. While it won't make the biggest of difference, every dollar saved can help in the long run.
But it's not just families feeling the pinch of inflation. As budget season approaches, it's clear municipal governments are also going to have to consider some belt-tightening practices this December. Or, tax increases.
It makes sense that municipal governments are also impacted by inflation. After all, Cities, Villages, Towns, and Counties also have to pay higher costs to heat their buildings, fuel their vehicles, etc. these days.
Rocky View County council has started its draft budget deliberations. In order to maintain service levels, the County is contemplating a six per cent tax increase to offset the effects of inflation, the war in Ukraine, and other factors.
Other area municipalities are in the same boat. The Town of Cochrane, for instance, is considering a 7.55 per cent tax increase, citing the same inflationary pressures as the County.
The City of Airdrie, meanwhile, recently had to reconsider its approach to a new library and multi-facility project, which had ballooned in potential price tag from $62.7 million to $83 million as a result of inflation and other global factors. Ultimately, Airdrie's council opted to increase the project's budget to $65 million, but they will have to figure out which elements of the original blueprint are scrapped in the future.
Families who are in a similar boat of looking for ways to cut costs won't have much sympathy for governments who only need to raise taxes to right their own ship.
For what it's worth, budget deliberations are worth keeping an eye on next month.