Income taxes down, property taxes up — especially in Calgary: How Alberta Budget 2025 affects you

Alberta's Budget 2025 introduces a personal income tax cut, reducing the rate on the first $60,000 of income from 10% to 8%, saving residents up to $750 annually. However, property taxes will increase, particularly in Calgary, where the provincial portion for education funding will rise from 28.5% to 31.6%. New fees for land titles and mortgages will also significantly increase costs for property buyers. Additionally, no fuel tax relief is expected, and a new electric vehicle registration fee and vaping tax are projected to generate substantial revenue for the government.