Calgary city council has voted to cap the annual property tax increase at 6% and will seek other provincial funds to make up the difference.
According to the province, homes in Calgary are costing more and that's prompted the called for an increase.
Council met over the increase back in November and approved a 6% property tax increase, but the province set their rate at 7.2%.
When you add those two rates together, Calgary property owners would have faced a 6.5% increase.
Under that new rate, the city would have taken in an extra $15M.
Ward 10 councillor Andre Chabot said on Friday the city shouldn't be collecting any windfall of cash.
"It just doesn't make sense to me that we that we should ask Calgarians to pay an extra five million dollars to residential customers, to put 15 million dollars more in our coffers."
Approving a combined tax increase of 6.5% would add $152 to the average annual property tax bill.
The increase, if approved at 6.5% would be the highest increase since the early 90s, but Calgary's property tax rate remains one of the lowest in the country.
