Calgary City Council has voted to return tax dollars on Monday, dropping this year’s tax bill a little bit further.
The $23.7M in funding came as a rebate from the province after its tax requisition was lower than expected.
Council agreed to return that money to taxpayers and it will work out to a $7 rebate for residents who own property valued at $460,000.
Last June, council cut the previously approved 4.7 percent tax rate to 1.5 percent and then completely eliminated that via a further rebate from the fiscal stability reserve.
“We had originally planned for a tax freeze this year and what actually people will see is a decrease. Not very much; $10 or so on the year, but a small decrease,” Mayor Nenshi said. “What council didn’t do is they didn’t return that money forever.”
He said that council decided it needed more information on 2018 and moving forward, deferring any future decision on rebates.
The 2017 property tax bills will be mailed out on May 26 and are due June 30.
