Alberta Property Tax Increases in 2024

Just Announced — Alberta property tax increases for 2024 for both Edmonton and Calgary. Both cities are grappling with the challenge of redistributing the tax burden between residential and commercial properties. Currently, property owners find themselves bearing the brunt of funding essential services, emphasizing the urgent need to reduce property taxes.

Property Tax Increase in Edmonton for 2024

Edmonton homeowners are bracing for a 6.6% property tax increase in 2024, a reduction from the initially proposed 7.09%. These changes aim to address years of underfunding and prioritize essential services in the city.

Property Tax Increase in Calgary for 2024

Calgary’s city council recently approved a substantial 7.8% property tax increase for 2024, driven by 28 new investment priorities, particularly in public safety and affordable housing.

What you can do about high property tax?

The increasing property tax rates in Edmonton and Calgary raise concerns about the affordability of property ownership in Alberta. As Alberta cities navigate budget decisions, the focus on reducing property taxes will remain a priority for property owners.

Property tax can be a great burden to you and your business. Nonetheless, there are mechanisms available to help you reduce your property tax burden. Contact one of our experts today for a free consultation to get started.

Sources:

https://edmontonjournal.com/news/local-news/edmonton-passes-2024-budget-with-6-6-tax-increase/wcm/9c82435b-76c2-4d36-b9da-c7b0a8bf95cd/amp/

https://calgaryherald.com/news/local-news/calgary-councillors-vote-9-6-favour-2024-budget-adjustments