We’ve been sounding the alarm bell on property taxes for awhile now, so we were very glad to see a number of business associations formalize an advocacy group to encourage City Hall to put a freeze on municipal spending.
The group, known as Prosperity Edmonton, has gathered data from different levels of government to show how Edmonton municipal spending has increased 100% since 2011, whereas inflation and population growth has increased only 50% over that same time frame.
The following video does an effective job of illustrating just how much further city spending has risen over inflation and population growth:
Here is a copy of the graph referenced in the video with the corresponding data:
Prosperity Edmonton also highlights a report commissioned by the Altus Group, with the following conclusion:
Within the Capital Region, the City of Edmonton has exhibited the highest non-residential mill rate, municipal taxes per capita, and non-residential tax bias. In addition, the overall tax demand in the City has far outpaced the population growth and inflation.
The City of Edmonton will be debating a four year budget cycle this fall. Following a pattern of municipal spending that has exceeded both population growth and inflation, Prosperity Edmonton is asking the City to freeze any spending increases for the next year.
How can you help?
1. Join Prosperity Edmonton‘s mailing list so you can be informed of news and steps being taken;
2. Contact your City Councillor and tell them that the spending and corresponding increases in taxes is creating a problem.
3. Share the message with fellow Edmontonians and on social media. Help bring awareness to this issue so City Hall can set the upcoming budget without having to put further strain on tax payers.
The information from Prosperity Edmonton has been obtained from the following sources:
• Trajectories shown in the video source from: Altus report and confirmed by research completed by the Chamber of Commerce.
• 2006-2016 population numbers source from: federal census data and City of Edmonton
• 2006 – 2016 – inflation numbers source from: stat Canada –
• Tax supporting data source from: Altus Report, City of Edmonton and Chamber of Commerce.
Chad GriffithsSIOR, 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 BrownBCom, 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 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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