Calgary council passes 2024 budget adjustments, residential property taxes to jump 7.8 per cent
Calgary councillors have passed recommended budget adjustments for next year, which include plans to boost spending to tackle transit and safety issues and an effort to shift more of the tax burden from businesses onto the residential base.
The vote, which passed late Wednesday afternoon, means residential property taxes will jump by 7.8 per cent in 2024.
It means property taxes for a typical single-family home will be about $16 per month more.
Non-residential property owners will see a 3.5 per cent tax increase next year, meaning the average commercial property worth around $5 million will pay about $277 more per month.
Council's vote came after a day of public hearings on the proposed changes and another full day of questions to each individual business unit.
Wednesday saw about 20 different amendments proposed to try and cut spending or provide relief from the property tax hike.
None of the ideas proposed to bring the tax increase down passed.
Among the failed money-saving motions were moves to cut a pilot program that provides free transit to children under the age of 12 and an amendment to cut permanent funding for Calgary's mental health and addictions strategy.
Property tax assessments for 2024 will be mailed out in the new year.
Property tax bills will be mailed out in May with bills due by the end of June.
'STEP IN RIGHT DIRECTION': CHAMBER
Calgary Chamber of Commerce president and CEO Deborah Yedlin described the move as a step in the right direction towards rebalancing property tax rates between residential and non-residential ratepayers but added that more needs to be done.
"Today’s decision to shift the property tax ratio by one percent is progress," Yedlin said in a media release. "However, it leaves Calgary vulnerable compared to other jurisdictions across Canada.
"As the most entrepreneurial city in Canada," she added, "we need a policy environment that supports Calgary in being the destination of choice for business and investors.
"Moreover, we need to support those businesses that have thrived in Calgary for decades but are now facing untenable increases in their taxes, impactingtheir ability to grow, increase wages or remain operational."
CTVNews.ca Top Stories
From outer space? Sask. farmers baffled after discovering strange wreckage in field
A family of fifth generation farmers from Ituna, Sask. are trying to find answers after discovering several strange objects lying on their land.
Broadcaster and commentator Rex Murphy dead at 77: National Post
The National Post is reporting that Rex Murphy, the pundit and columnist who hosted a national call-in radio show for decades, has died.
Pearson gold heist suspect arrested after flying into Toronto from India
Another suspect is in custody in connection with the gold heist at Toronto Pearson International Airport last year, police say.
Millions of cyberattacks per hour as B.C. government investigates multiple breaches
Careful attention to government statements and legislation is required to get a handle on the level of risk British Columbians’ information is under, as investigators probe multiple breaches under a continued barrage of attacks.
Ontario family receives massive hospital bill as part of LTC law, refuses to pay
A southwestern Ontario woman has received an $8,400 bill from a hospital in Windsor, Ont., after she refused to put her mother in a nursing home she hated -- and she says she has no intention of paying it.
Debate on abortion rights erupts on Parliament Hill, Poilievre vows he won't legislate
A Conservative government led by Pierre Poilievre would not legislate on, nor use the notwithstanding clause, on abortion, his office says, as anti-abortion protesters gather on Parliament Hill.
Justin and Hailey Bieber are expecting their first child together
Hailey and Justin Bieber are going to be parents. The couple announced the news on Thursday on Instagram, both sharing a video that showcases Hailey Bieber's growing belly.
Here are the ultraprocessed foods you most need to avoid, according to a 30-year study
Studies have shown that ultraprocessed foods can have a detrimental impact on health. But 30 years of research show they don’t all have the same impact.
New 'Lord of the Rings' film coming in 2026
The Oscar-winning team behind the nearly US$6 billion blockbuster 'Lord of the Rings' and 'The Hobbit' trilogies is reuniting to produce two new films.