Calgary city council on track to significantly cut proposed property tax hike

Calgary city council has been able to bring down the overall proposed property tax increase from 3.6 per cent to at least 1.6 per cent for 2026.

However, this isn’t set in stone as council is still in the process of debating amendments to the budget, wrapping up their work for the day Monday just after 9:30 p.m.

Some of the key motions that passed so far that have led to the proposed cut include using $50 million of investment income that the city receives towards the decrease and stopping a proposed one per cent tax shift from non-residential properties to residential.

“At the heart of it, council has made a thoughtful, strategic direction to give more money back to Calgarian taxpayers, not just business owners but also homeowners to enjoy that relief,” said Mayor Jeromy Farkas.

While motions to scrap the free fare zone and eliminating the 12-and-under ride free program on Calgary transit failed, a motion that reverses the 2023 fare freeze — adding it on top of the already proposed fare increase commuters will see in 2026 — passed. That motion will see an adult single-use fare cost $4 in 2026.

As of Monday evening, the running overall property tax hike for 2026 is sitting at 1.14 per cent, but that can change depending on what other amendments council proposes.

Coun. John Pantazopoulos has said he has an amendment that would bring down the tax increase to zero per cent in 2026.

Other moves that could also contribute to the decrease include using grant funding, splitting up money earmarked for the downtown conversion program, and switching mental health and addictions funding from ongoing to a one-time payment,

There are well over 30 amendments to the 2026 budget.

Council is set to continue their work at 10 a.m. Tuesday.