Property tax increases to 4%, downtown strategies highlight latest Calgary budget

The City of Calgary has approved its latest budget after three days of talks wrapped up on Wednesday night.

It did include funding for many initiatives, which also boosted the property tax increase to nearly four per cent for next year.

“That’s going to be a major challenge for businesses and families, many of whom have had major challenges over the last several months,” said Ruhee Ismail-Teja with the Calgary Chamber of Commerce. “Particularly given that we received signals from the City that we would be seeing only modest increases in property tax.”

The increases come after council approved several add-ons that saw an increase in funding for the Calgary Fire Department, furthering climate change policies and more.

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Seeing as this is the end of the four-year budget cycle, the Chamber is hoping this council will be able to make some changes in the next budget to avoid more tax increases.

“So, figuring out if there’s ways we can look at going to the markets to obtain capital, selling or leasing city-owned land, a few different options there,” she explained.

“But, figuring out how citizens can have the services they need without having higher taxes every year.”

And while that may be a downside of the budget, Ismail-Teja says the Chamber is giving a thumbs up to funding for downtown strategies — which include putting money towards downtown office spaces.

“There’s also other pieces that need to be filled in that the city has plans for around supporting the arts community, revitalizing recreation downtown ensuring that we have safety and great pathway systems.

“So, it really is an ‘all of the above’ approach that we need.”