Edmonton’s mayor is pitching a plan to lower an expected property tax increase next year.
In a Thursday letter, Amarjeet Sohi outlined a series of budget adjustments he said would lower the proposed 2025 tax levy by “at least” two per cent.
They include:
- temporarily modifying the Neighbourhood Renewal program to pull $15 million toward tax levy relief;
- changing EPCOR dividend payments and franchise fee formulas to help replenish financial stabilization reserves;
- reallocating funding to support the City Centre Optimization Pilot, previously funded by the province, to rebuild vibrancy downtown; and
- creating an industrial growth hub to boost non-residential tax income, using funding pulled from existing planning and development reserves.
The current city budget was set in 2022. City administration said it is no longer enough to support the same levels of services due to population growth, rising costs and changing needs.
Budget adjustments for 2025 were submitted …