Canada News

Get the latest new in Candada

Edmonton

Edmonton proposes 8.1% property tax hike for 2025

Edmonton’s 2025 budget is still higher than what was approved by council, even after city administration adjusted spending.

The city is recommending a proposed 8.1-per cent increase in 2025 and a 7.3-per cent bump in 2026.

Back in April, council approved hikes of 7.0 per cent next year and 6.3 per cent in 2026.

Click to play video: 'Further tax hikes could be on the way for Edmonton'

Further tax hikes could be on the way for Edmonton

“That’s the starting point, it absolutely can’t be the ending point,” ward pihêsiwin Coun. Tim Cartmell said.

Story continues below advertisement

“That’s way too high.”

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

Get weekly money news

Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.

“1.1 per cent more on what was already going to be a pretty hard hit for folks, so I’m a little worried about that,” ward Nakota Isga Coun. Andrew Knack said.

The proposed numbers still need to go before council.

Council will make a budget decision in December.

For more on this story, watch the video at the top.

Click to play video: 'Edmonton city council approves 8.9% property tax increase in 2024'

Edmonton city council approves 8.9% property tax increase in 2024

&© 2024 Global News, a division of Corus Entertainment Inc.

View original article here Source