A report by business leaders reveals that property taxes in Edmonton have increased by 74 per cent over the past decade (accounting for inflation and population growth) and will go up another 4.9 per cent over the next three years. The Canadian Federation for Independent Business says the annual increases for 2016-2018 will be necessary unless council leaders rein in the escalating city budget. The Federation’s Amber Ruddy told The Edmonton Journal that much of the increase in city budgets has been due to wages and benefits but that only inflation and population growth should increase the amount required with additional spending deemed “unacceptable” by the group’s members. 

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

More market watch: