EDMONTON – Edmontonians will be getting a break on property taxes this year, thanks to a change in provincial tax regulations.
Back in December, council approved a 5.7 per cent increase, which today was lowered to a 2.4 per cent average increase for home owners.
The nearly six per cent hike would have been the highest increase since 2009.
The change is thanks to a modest windfall the city received last month, after the provincial government cut education property taxes for homeowners, and raised them for businesses.
Mayor Don Iveson said council didn’t want to take more money than necessary, given the state of the economy.
“Certainly times are tough for some businesses and families.”
“We didn’t want to take a dime more than we needed in a year like this.”
The mayor said the city has kept the difference in past years, to fund infrastructure costs, such as LRT or road construction.
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