Property taxes for homeowners could now be going up to 6.92 per cent after council approved ongoing funding for Explore Edmonton Wednesday. But if one councillor had his way, next year’s price-tag could have been substantially higher.

Calling for council to “rip off the Band-Aid,” Coun. Aaron Paquette put forward an ambitious motion which would dramatically altered the city’s operating budget — calling for the city to put $64.5 million to restore the financial stabilization reserve to its minimal amount this year.

Paquette’s motion would have increased 2026’s property tax increase to more than nine per cent. But he added this would have allowed the city to have much lower tax increases in the following years.

Paquette predicted under the current five-year repayment plan, ratepayers coul

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