City council to weigh boosting this year's tax hike to help cut business tax bills
CBC
With a property tax hike already approved for 2023, city council will discuss on Tuesday whether to raise that figure a bit higher.
Administration has put three scenarios before city council as the politicians tackle the thorny issue of how much tax revenue it should generate from non-residential properties versus residential ones.
Right now, residential customers pay 52 per cent of all tax dollars while business property owners pay 48 per cent.
Administration is suggesting council could shift that equation to 53-47, which would cost the owner of a median priced house worth $555,000 an extra $46 in tax this year.
It says shifting that equation to 54-46 is also not too risky but that would cost that same homeowner an extra $93 in tax in 2023.
Alternatively, administration says another option for council is to just leave the formula alone, given a 4.4 per cent tax hike has already been approved for this year.
The president of the Calgary Chamber of Commerce, Deborah Yedlin, said her organization is in favour of council shifting the ratio.
"We really need to make sure that our businesses can be competitive. Ninety-five per cent of our businesses in Calgary are small businesses," said Yedlin.
"Let's make sure that they can be as successful as they can be because then everybody benefits."
She said a report from administration notes that Calgary business property owners pay a higher ratio of the overall tax bill than many other cities in Alberta and in Canada.
"If we want to attract more opportunities to the city, we have to be cost competitive. And if we're out of step with the rest of the country, we need to think about that."
From her vantage point, Yedlin said she believes a two percentage point shift is saleable given the benefits that would accrue to the whole city's economy.
She said that type of increase amounts to less than $8 more each month for a typical homeowner.
Coun. Sonya Sharp supported the idea of delaying this tax shift discussion from last November's budget debate until the new year.
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