Opinion: A strong Edmonton needs bold action — not more tax hikes

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Life is already too expensive for so many Edmontonians.

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Unfortunately, Edmonton city council is about to make things worse with its planned increase to municipal property taxes for the next two years. Our city, which should be a place of opportunity and innovation, is facing a financial crisis.

The projected property tax increases of 8.1 per cent in 2025 and 6.3 per cent in 2026 underscore the financial strain on residents and businesses alike. These numbers are not just statistics but represent rising costs that threaten Edmonton’s ability to attract and retain businesses, while placing pressure on families already grappling with inflation. The ripple effects of these increases will reduce Edmonton’s competitiveness within the region and beyond.

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But it doesn’t need to be that way.

The city needs urgent, collaborative, and bold action. Members of Edmonton’s business community — represented by the Edmonton Chamber of Commerce, BILD Edmonton Metro, BOMA Edmonton, and NAIOP Edmonton — are stepping forward with solutions that can stabilize our city’s finances, but more importantly, reposition Edmonton as a thriving and globally competitive city. And they’re calling on the city to be more ambitious than ever and think critically about the long-term vision for Edmonton.

The city’s growing reliance on tax hikes is not a sustainable solution. Relying on raising taxes year after year only puts more pressure on families and businesses, and it’s not a long-term fix. Instead, we need to make real changes that will bring stability and help grow our economy.

Public money needs to work harder. It should be spent in ways that directly benefit Edmontonians — whether through improving core city services, like keeping our roads safe and clear, maintaining parks, or ensuring waste is managed efficiently. These are the essential services that make life better for everyone in the city.

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One area where bold investment can create significant returns is our downtown. A thriving downtown is more than just a symbol of civic pride; it’s a powerful revenue generator for the entire city. According to the newly released Downtown Investment Plan, every dollar invested in downtown development can generate up to $3 in economic activity.

As downtown becomes a hub of growth and opportunity, the benefits will ripple across the entire city. Increased revenues from downtown activity can offset municipal costs, reduce reliance on property tax hikes, and ultimately ease the burden on taxpayers, creating a stronger and more prosperous Edmonton for all.

While housing is a key issue, there’s also a growing challenge on the business side. Edmonton’s share of regional business growth has shrunk over the last decade, falling from 70 per cent of regional employment in 2010 to just 41 per cent in 2022. This is a major concern because without businesses thriving, there are fewer jobs and less opportunity for all.

To fix this, we need to focus on revitalizing downtown, investing in industries that can bring in jobs, and creating a business-friendly environment that attracts investment. If we do this right, Edmonton can regain its competitive edge.

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While tackling immediate fiscal challenges, Edmonton must also adopt a forward-looking mindset to position itself as a global leader. The city’s current strategic vision, while robust, must be recalibrated to reflect more ambitious goals aimed at transforming Edmonton into a vibrant hub of economic and cultural activity.

This isn’t about criticizing past decisions; it’s about shaping a stronger, more sustainable future for Edmonton. We understand the challenges our city faces, but we cannot afford to stand still. Now is the time for bold, strategic action. The future of Edmonton depends on every one of us working together to create lasting solutions.

The business community is ready and eager to collaborate, to lead, and to ensure this city thrives. Let’s build the Edmonton we all know it can be — strong, competitive, and resilient. We’re here to help make it happen.

Doug Griffiths is CEO and president of the Edmonton Chamber of Commerce and former Alberta minister of Municipal Affairs.