Canada Global(Web News)Calgary City Council on Tuesday rejected a motion to reopen the city’s proposed 2024 budget in hopes of more than $23 million in tax breaks to offset property tax increases.
The original motion directs the city administration to find $23 million in savings to cover the cost of a one percent change in the tax share from businesses to residents and in return provide some relief from this year’s property tax bills. .
Councilors Terri Wong, Sonya Sharp, Dan McLean, Andre Chabot, Jennifer Vines and Sean Chu co-signed the motion, which was first introduced at the Jan. 23 executive committee meeting.
The tax changes, along with a package of 28 spending items in November’s budget, increased property taxes for Calgary homeowners by 7.8 per cent overall this year.
At Tuesday’s council meeting, Coun. Sharpe amended the motion to recommend a one-time operating and capital budget adjustment to city administration to reduce the 2024 budget by $23 million.
Wong and Sharp said they’ve heard from constituents that raising property taxes during a life crisis is too burdensome.
Wong and Sharp said they’ve heard from constituents that raising property taxes during a life crisis is too burdensome.
In November, the city administration proposed shifting the share of the tax between businesses and homeowners by one percent annually over the next year.
Currently residential properties cover 52 percent of property taxes in Calgary, with businesses paying the remaining 48 percent.
Currently residential properties cover 52 percent of property taxes in Calgary, with businesses paying the remaining 48 percent.
