On the agenda: Taxes, screen industry, and civic spending
By
Mack Male
This week, audit committee will meet on Feb. 13 and executive committee will meet on Feb. 15. Here are some of the key items on the agenda:
- Administration asserts there are "limited tools available" to make the property tax system more progressive, and says most approaches "are inadvisable given legislative limitations." As of 2022, there were about 4,800 residential properties valued at $1 million or more, which, if taxed at a 10% higher rate, would reduce taxes for properties below the threshold by 0.3%. A separate report on residential tax subclasses suggests phasing out the "Other Residential" subclass — which consists mainly of multi-unit rental properties — would reduce taxes for those properties by 11.7% and increase taxes for other residential properties by 1.6%. Such a change would support the City Plan's focus on higher density, administration said.
- The Edmonton Screen Industries Office is seeking permission to use a $4-million fund to build capacity in the creative industries rather than investing in productions with the expectation of financial returns. The goal is to "make an industry that then makes money," Tom Viinikka, CEO of the ESIO, told Taproot.
- Administration has provided a breakdown of spending by department, along with population growth and inflation, for the period of 2012 to 2022. The report indicates that "generally civic department expenditure budgets have grown on pace with population and inflation" with the largest increases resulting from expenses related to expanded capital spending such as debt servicing and dedicated levies for neighbourhood renewal and LRT expansion.