Calgary budget adjustments call for bigger property tax hike
CBC
If city council accepts all of administration's proposed adjustments to the 2024 budget, Calgary homeowners could be looking at a 7.8 per cent property tax increase for next year. That tax hike currently sits at nearly 3.4 per cent. But to meet the needs of a fast-growing city, administration is recommending some additional spending for 2024. It also suggests council take steps to ensure businesses can stay competitive by shifting some of their tax burden to residential accounts. If all of the measures are approved, it could add $16 a month to the property tax bill next year for owners of a median priced house worth $610,000. The city says even if the measures are approved, Calgary's taxes would be increasing below the rate of inflation plus population growth. Over the past two year's Calgary's population has jumped by 5.1 per cent. The city's chief administrative officer, David Duckworth, said administration and council have worked hard to minimize property tax and user fee increases in recent years. "Our aim is to balance the desire to keep increases affordable with the need for additional investment in priority areas like affordable housing, public safety, and transit as Calgary experiences record population growth," he said. He said in the 2019 to 2023 period, Calgary averaged an annual tax increase of 1.19 per cent.
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