The stability of Calgary’s economy is being credited for the lack of proposed increases to previously approved tax rates.
“We had extensive citizen engagement and a lot of input from City Council into creating our three year budget through something called Council’s fiscal plan,” says Mayor Nenshi. “Our goal for this year was to make sure that Calgary’s economy hadn’t changed very much, that we could still capture the millions of dollars in savings from efficiencies that Council approved the last time.”
The city says property tax revenue was higher than projected due in part to an increase in the assessment base.
The total spending proposed on the adjusted operating budgets is approximately $3.0 billion for 2013 and $3.1 billion for 2014.
The previously approved tax rates of 5.7 and 6.1 per cent will remain unchanged.
The highlights of the proposed adjustments to the 2013-2014 budget are available in the “Our Future” section of the City of Calgary website.
