Is Edmonton Changing Taxation?
Edmonton city council is looking at a new property tax model that would favour rental properties and denisty developments, in an attempt to discourage urban sprawl.
Edmonton city council sees the current tax model, based on a percentage of the property value (Mill Rate) as penalizing renters. Their theory is that landlords will pass these savings on to renters. Personally, I don't believe most landlords will pass the savings on to renters willingly.
I do, however, see the logic in reducing high-density tax rates. The logic is sound; you need to burn less fuel to collect garbage or service a high density neighbourhood. There are fewer kms or road per resident to be maintained, and less land needs to be serviced.
What do you think? Is this forward thinking by Edmonton's city council? Or is it a symptom of an inexperienced council? Will they be successful with their goals?
You can read the Edmonton Journal article at https://edmontonjournal.com/news/local-news/property-tax?fbclid=IwAR3EsBpQ8ksYLP4SGVCx9etR-cyZECF2OIycO5EKIi--E1Yvs_hDixbHvH8