Businesses in Edmonton Are Asking For A Break in Property Taxes

Joe Rustom, chef and owner of Parkallen Restaurant, said the current business climate in Edmonton is making it difficult for small companies.  A second generation owner, Joe’s parents started the business in 1982.  Over the past decade in particular, taxes have risen considerably, with Joe now estimating his property taxes and utilities cost between $3,500 – $3,700 / month.

The restaurant had 24 employees at their peak, and are now down to 7.  This is the grim reality for many businesses that have gone through the worst provincial recession in decades, only to be faced with minimum wage increases, carbon taxes and continuous increases in property taxes.  Parkallen is still proudly open for business, whereas others have been forced to close their doors under all these different pressures.

To help bring awareness to these concerns, Joe was recently interviewed for Prosperity Edmonton, an advocacy group that is asking City Council to freeze increases in property taxes this year.  With the City of Edmonton embarking on a new four year budget cycle, it’s a critical time to share stories like Joe’s.

[embedyt] https://www.youtube.com/watch?v=Qgnv0te7JXE[/embedyt]

This is an important conversation, so we encourage everyone to talk about it and engage with your City Councillor.

On a side note, we highly recommend checking out Parkallen Restaurant.  It’s located in south Edmonton at 7018-109 Street or you can call ahead at 1-855-822-6854 to book a reservation.

 

Our Team

Chad Griffiths

Chad Griffiths

SIOR, CCIM

Chad is a partner with NAI Commercial Real Estate and focuses on the Greater Edmonton area. Chad entered the industry in 2004 and has completed over 400 commercial transactions with clients ranging from small, local companies to large institutional owners. Chad has been a top 15 producer Canada-wide since 2013.

Ryan Brown

Ryan Brown

BCom, SIOR

Ryan is a partner with NAI Commercial Real Estate in Edmonton. He is currently ranked nationally as one of NAI's top advisors in Canada. Having executed in excess of $100 Million dollars worth of sales transactions and over 2 Million square feet of lease transactions, Ryan has developed a firm understanding of asset evaluation and an aptitude for building design, functionality, and practicality for long term use.

Darcie Bouteiller

Darcie Bouteiller

Darcie is a licensed Commercial Real Estate Agent in the Province of Alberta with a focus on the Edmonton market and its surrounding areas. Darcie accomplishes custom solutions for her clients through her personable nature and results driven attitude. Darcie can help if you are looking to invest in commercial real estate or are looking for representation for a sale or lease transactions.

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