Edmonton residents may be hit with a staggering property tax hike next year, with city officials hinting at an increase between 9 and 13 per cent. This news comes on the heels of this year’s steep 8.9-per-cent jump, leaving many residents worried about the city’s financial future.
During a meeting at City Hall on Wednesday, Ward Pihesiwin Coun. Tim Cartmell acknowledged the challenge: “That is going to be a really difficult number for most people to consume.”
With the city facing mounting financial pressures, including rising costs due to inflation and shortfalls in revenue, Edmonton’s administration is sounding the alarm. The city is grappling with higher costs for fuel, parts, and maintenance, while revenue from transit fares, pet licenses, and construction permits has fallen short of expectations.
Mayor Amarjeet Sohi expressed concern over the proposed tax hike, emphasizing the need to protect Edmonton residents. “I would rather see that number go down,” he stated, “but we need to look at every option in order to reduce that pressure on Edmontonians at a time when they’re struggling with their own affordability challenges.”
Adding to the financial strain, the province has slashed Edmonton’s infrastructure grants by over two-thirds, according to Ward Dene Coun. Aaron Paquette. These cuts represent a significant hit to the city’s budget, accounting for approximately 4.5 per cent of the projected tax increase.
As council prepares for budget discussions this fall, the pressure to balance the city’s financial needs while minimizing the tax burden on residents is mounting. Edmonton’s leaders will need to make tough decisions on spending and services in the months ahead.
What you are saying:
After a 8.9% increase, @CityofEdmonton is now talking about a 13% tax increase next year.
— Leigh Patrick Sullivan (@LeighPS007) August 15, 2024
I'm just spitballin' here, but how about CUTTING unnecessary things like bike lanes in a winter city? Things like that? Or would that damage the green-cult reputation? #yeg
There is a big #yeg tax increase coming (again). Councillor @aaronpaquette wants to educate Edmontonians about "inflation". Does he not get it? We're tapped out. Time to educate the Councillor about "democracy".
— Len Thom (@lenthomlaw) August 14, 2024
50 million equates to maybe $100 on the prior tax end per household. When it increases $400 a year the city has a spending problem regardless of if the ucp pays or not
— Steve the Panda AKA HPSteve (@SteveThePylon) August 15, 2024
Well, just come out and tell us we’re in for more increases. City can’t cut costs if their lives depended on it and can’t balance a budget with all their personal pet projects that benefit the few so just tell us how much more we’re on the hook for
— Steve the Panda AKA HPSteve (@SteveThePylon) August 15, 2024
