Calgarians won’t be facing another hike in property taxes next year after the city announced Tuesday that it has found ways to hold the line on a 3.6 per cent increase.
In a news release announcing next year’s budget adjustments, the city says the increase means the owner of a typical single residential property, assessed at a value of $700,000, using an average amount of water (90 bathtubs full) will pay an additional $8.37 in property tax and $5.09 more in water, waste and recycling fees per month.
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In September, city administrators proposed a 4.5 per cent increase, which put them at odds with council members who wanted to hold the line on a 3.6 per cent hike.
The city’s acting chief financial officer, Les Tochor, says administration was able to identify additional investment income to allow it to limit the tax hike to the lower amount.
But the city says the changes made will also allow it to invest more in the four priority areas that Calgarians have identified — infrastructure, housing, public safety and transit — because “Calgarians have been clear that what matters most to them.”
More information on the 2025 budget adjustments is available on the city website.
More to come…
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