EDMONTON: Edmonton City Council announced a proposal to increase the city’s property tax rate by 6.4% in the new year. The announcement came during the presentation of the City Budget on Thursday afternoon.
City Council officials stated that due to soaring inflation, which has led to millions of dollars in unexpected costs, the property tax increase is unavoidable. The proposed hike is anticipated to generate approximately $23 million in additional revenue to cover these rising expenses.
Key Budget Allocations
Deputy City Manager and CFO, Stacey Padbury, detailed several areas requiring additional funding in the budget:
- Operational Enhancements: $13 million has been set aside for increased costs related to animal protection, the cleanup of Spring Street, and essential maintenance work across the city.
- Capital Projects: A total of $24 million has been allocated for various capital initiatives, including the demolition of the Argyle Park Velodrome, the replacement of the roof at the Rosedale Power Plant, and preparing land for future school sites.
The proposed budget reports will be presented to the full City Council on November 25th. The Council will then hold debates and decide whether to approve or adjust the budget—including the proposed tax increase—during a special session scheduled from December 1st to 4th.
