Edmonton city council has completed spring operating budget adjustment discussions, approving a number of changes to the 2023-2026 budget to arrive at an 8.9% property tax increase for 2024. These adjustments allow the City of Edmonton to respond to growing financial pressures so it can continue to deliver the 70 services Edmontonians rely on. “The City is dealing with many of the same financial challenges as Edmontonians, especially when it comes to the cumulative impacts of inflation,” said City of Edmonton Chief Financial Officer and Deputy City Manager of Corporate and Financial Services Stacey Padbury in a Tuesday press release.“Today’s adjustment allows the City to respond to the high costs we’re facing now, as well as to lower revenues and a rapidly growing population, so that we can continue to deliver the services that we heard matter to Edmontonians.”The City of Edmonton said the property tax increase allows it to respond to several budget pressures that have increased since the budget was developed in 2022. This includes higher than forecast costs for energy, labour and Workers’ Compensation Board insurance premiums. Over the past decade, it said it has worked hard to find efficiencies and savings to reduce the impacts of inflation and growth on its operating costs and taxpayers. Since 2015, these efforts has resulted in cumulative savings of $1.9 billion. Edmonton city council approved increases to services in 2024. This includes operating the new Metro Line LRT to the new NAIT Station, adding more bus service hours to improve public transit access and align to service standards, increasing the response on homeless encampments and support for homeless people, expanding library services at Heritage Valley, piloting an assisted snow removal program for seniors and people with mobility issues, and increasing support for major event bidding in partnership with Explore Edmonton.The City of Edmonton acknowledged the spring supplemental operating budget adjustment is the last step in finalizing the annual tax levy, which funds over half of its operating budget. It said city council will bring forward a bylaw next week to set the tax rates based on the approved increase. Tax notices will be mailed to all property owners on May 23, with property taxes due on June 30.The property tax increase will affect property owners differently, as it depends on how their property’s assessed value compares to the market. On average, property owners can expect an increase of about $66 for every $100,000 in assessed property value. Padbury concluded by saying the City of Edmonton will “now have a much better sense of the financial pressures we’re facing in this budget cycle.”“We can’t continue to absorb the financial impacts we’re facing this year and beyond without adjusting taxes or service levels and it will likely require some tough choices on both fronts in the years ahead to ensure our long-term financial sustainability,” said Padbury. The Canadian Taxpayers Federation (CTF) called on Edmonton city council in November to rein in its salaries and spending splurges amid its proposed 6.6% property tax hike. READ MORE: Taxpayer watchdog accuses Edmonton city council of spending problem“Ordinary working people didn’t get a nearly 7% pay increase this year, so what makes Edmonton city hall think these folks can afford this property tax hike?” said CTF Alberta Director Kris Sims. “The city clearly has a spending problem, and it’s wasting taxpayers’ money on electric buses that don’t work.”
Edmonton city council has completed spring operating budget adjustment discussions, approving a number of changes to the 2023-2026 budget to arrive at an 8.9% property tax increase for 2024. These adjustments allow the City of Edmonton to respond to growing financial pressures so it can continue to deliver the 70 services Edmontonians rely on. “The City is dealing with many of the same financial challenges as Edmontonians, especially when it comes to the cumulative impacts of inflation,” said City of Edmonton Chief Financial Officer and Deputy City Manager of Corporate and Financial Services Stacey Padbury in a Tuesday press release.“Today’s adjustment allows the City to respond to the high costs we’re facing now, as well as to lower revenues and a rapidly growing population, so that we can continue to deliver the services that we heard matter to Edmontonians.”The City of Edmonton said the property tax increase allows it to respond to several budget pressures that have increased since the budget was developed in 2022. This includes higher than forecast costs for energy, labour and Workers’ Compensation Board insurance premiums. Over the past decade, it said it has worked hard to find efficiencies and savings to reduce the impacts of inflation and growth on its operating costs and taxpayers. Since 2015, these efforts has resulted in cumulative savings of $1.9 billion. Edmonton city council approved increases to services in 2024. This includes operating the new Metro Line LRT to the new NAIT Station, adding more bus service hours to improve public transit access and align to service standards, increasing the response on homeless encampments and support for homeless people, expanding library services at Heritage Valley, piloting an assisted snow removal program for seniors and people with mobility issues, and increasing support for major event bidding in partnership with Explore Edmonton.The City of Edmonton acknowledged the spring supplemental operating budget adjustment is the last step in finalizing the annual tax levy, which funds over half of its operating budget. It said city council will bring forward a bylaw next week to set the tax rates based on the approved increase. Tax notices will be mailed to all property owners on May 23, with property taxes due on June 30.The property tax increase will affect property owners differently, as it depends on how their property’s assessed value compares to the market. On average, property owners can expect an increase of about $66 for every $100,000 in assessed property value. Padbury concluded by saying the City of Edmonton will “now have a much better sense of the financial pressures we’re facing in this budget cycle.”“We can’t continue to absorb the financial impacts we’re facing this year and beyond without adjusting taxes or service levels and it will likely require some tough choices on both fronts in the years ahead to ensure our long-term financial sustainability,” said Padbury. The Canadian Taxpayers Federation (CTF) called on Edmonton city council in November to rein in its salaries and spending splurges amid its proposed 6.6% property tax hike. READ MORE: Taxpayer watchdog accuses Edmonton city council of spending problem“Ordinary working people didn’t get a nearly 7% pay increase this year, so what makes Edmonton city hall think these folks can afford this property tax hike?” said CTF Alberta Director Kris Sims. “The city clearly has a spending problem, and it’s wasting taxpayers’ money on electric buses that don’t work.”
