Council begins budget adjustment debate with property tax increase on the table
CTV
After days of questions to administration and public feedback, Calgary councillors are discussing a slate of changes to next year’s budget that could result in a residential property tax increase of 7.8 per cent.
After days of questions to administration and public feedback, Calgary councillors are discussing a slate of changes to next year’s budget that could result in a residential property tax increase of 7.8 per cent.
Administration is recommending the property tax hike to cover increased spending and a move to shift of the tax share from business to residential properties. Inflation is impacting city projects, officials say, and increased spending is also needed to fund projects identified as priorities for 2024.
Money is needed to implement some of the city’s housing strategy and more funding would go towards tackling transit and public safety issues, including the hiring of 65 more peace officers.
Councillors have indicated there could be dozens of amendments proposed Wednesday before a final decision on spending and taxation is made.
The first amendment, introduced by Coun. Andre Chabot, suggested the city should wait to implement its proposed tax shift from businesses to residential.
His motion was defeated by an 8-6 vote with supporters of the tax shift arguing business have long covered more than their fair share of property taxes.
This is a developing story and will be updated throughout the day...
