Edmonton city council approves 3.2 per cent residential hike for 2018

by Elise Stolte

Edmonton residential property owners will see a 3.2 per cent tax increase next year, costing an extra $77 for the typical homeowner.

City council unanimously approved the budget increase Thursday after a day and a half of deliberations.

The increase includes funds to fight dandelions on sports fields with a new eco-herbicide, a population-based increase for police and the last increase needed to fully fund the neighbourhood renewal program.

After more than a decade of steep increases, Mayor Don Iveson said this budget is now in line with how he wants to see budgets come in for the future, especially since Edmonton’s crazy labour market has now calmed.

Neighbourhood renewal is worth 1.4 per cent of the total. Without that, the tax increase would be 1.8 per cent, or close to the 1.7 per cent predicted to keep pace with inflation in 2018.

“I see this as 1.8 for all the city’s other needs … That’s good financial management on the city’s part,” Iveson said.

He wants to continue to stick close to inflation in the next four-year budget cycle, as well.

A 3.2 per cent tax increase is equivalent to an additional $77 for the typical or median homeowner with $397,000 in property value. That homeowner would pay $2,462 in municipal taxes, or $3,013 if fees for city-run utilities and garbage collection are included.

The neighbourhood renewal initiative started 10 years ago after residents in mature neighbourhoods grew frustrated with crumbling sidewalks and roads.

full story at http://edmontonjournal.com/news/local-news/edmonton-calls-out-the-dandelion-troops-and-approves-3-2-per-cent-budget-hike

Categorised in: Canadian News