Based on the City of Edmonton, the city may face a higher-than-expected tax rise next year to sustain services. In its fall budget adjustment report, the city recommended a 7.09 percent tax hike in 2024. That is 2.13 percent higher than the City Council approved when the four-year budget was established. The City Council approved the budgets for 2023-2026, which proposed annual property tax rate increases of around 5%.
The increase is recommended in response to rising spending and decreased revenue to satisfy budget obligations for 2023-26. According to city officials, maintaining services next year will cost an additional $41.2 million.