Edmonton’s Financial Sustainability Plan: The Way We Finance
At the May 10th, 2016 Executive Committee meeting, council received two reports for information from Financial and Corporate Services on Edmonton’s Financial Sustainability Plan. Two white papers; Tax Assessment and Taxation and User Fees were discussed.
Tax Assessment and Taxation White Paper:
What follows in this paper is an overview of the property assessment and taxation system in Edmonton and Alberta. The paper is essentially divided into two parts: Part I focuses on a detailed understanding of the system’s workings and addresses both its strengths and weaknesses. Part II looks at five major themes of relevance to The City of Edmonton: (1) tax relief measures, (2) the difference between a market value and a regulated assessment approach, (3) an analysis of property tax policy, (4) a review of tax exemptions and their consequences, and (5) considerations in a big city context. These themes consider policy questions to be contemplated and discussed.
Tax Assessment and Taxation White Paper
User Fees White Paper:
The purpose of this white paper is to create discussion around developing a corporate policy for user fees and subsidies that supports the City’s financial, economic, social, and environmental strategic objectives. In order to examine both user fees and subsidies in a meaningful and relatable way, this paper will then highlight two City services which generate significant user fee revenues, but which also involve subsidies: transit and recreation services.
Edmonton’s Financial Sustainability Plan:
The Way We Finance is the City of Edmonton’s plan that speaks to City Council’s ten year strategic goal to ensure Edmonton’s financial sustainability. The City has been preparing a series of white papers on a number of municipal financial topics that will inform the recommendations for development of financial policies and strategies that will be presented in Edmonton’s Financial Sustainability Plan: The Way We Finance.
The topics are:
Investments (presented to Executive Committee on September 30, 2014)
Franchise Fees (presented to Executive Committee on September 30, 2014)
Debt (presented to Executive Committee on November 12, 2014)
User Fees (to be presented to Executive Committee on April 12, 2016)
Property Assessment and Taxation (to be presented to Executive Committee on May 10, 2016)
All of the white papers are published online and can be found here
