Property Tax Increase of 4.9% Approved for the Next Three Years in Edmonton
In the city of Edmonton, the city staff discovered cost savings in a number of areas such as a bus scheduling program that will save the city 27 million dollars. These savings will be derived from a proposed tax increase of 4.9% for each of the next preceding years. For the average single family home with an assessed value of $401,000, taxes will increase as follows:
- 2016 - $109
- 2017 - $114
- 2018 - $120
According to Edmonton’s CFO, Todd Burge, “This is a fiscally responsible budget.” Increases in taxes in nothing new. For many years, citizens within the community have dealt with tax increases to pay for various city operations including, but not limited to, neighborhood revitalization, transit, and law enforcement.
While the council members see these dedicated tax increases as a way to find a balance of sorts between giving Edmontonians what they desire and keeping taxes low, the citizens see it as just political fluff.