“Mansion tax” not likely, says city of Edmonton
One of those tools is that the city could set different tax rates for different types of properties by creating subclasses.
However, the city said it recommends the subclasses are based on the physical characteristics of a property, like whether it’s a house or apartment, or by its square footage. The city said basing a subclass on the characteristics of its occupants — such as income — is likely not allowed under provincial law.Story continues below advertisement
Another approach would be to set a different tax rate for the portion of property value that is above a certain number. This is used in B.C. for education taxes, where taxpayers with highly-valued properties pay a higher tax rate on the portion over $3 million.
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