City Finances- Tax Shift Final Choice
FINAL OUTCOME // APRIL 8 // 2019
On April 8, Council approved the 2019 Property Tax Rates.
For residential homeowners, Council approved a combined 2019 property tax rate increase of 3.45 per cent. For the median residential property owner with a home valued at $475,000 this will mean an annual increase of $105 on the total tax bill.
To help non-residential property owners, Council approved a combined decrease of 3.07% in the non-residential combined tax rate in 2019. Tax impacts on individual properties will vary depending on the specific assessment change from 2018 to 2019. This does not include the impacts of the Business Tax Consolidation (BTC). The BTC will increase non-residential property taxes, while decreasing business taxes by an equal amount.
Hello, citizens. I want to talk to you today about the first part of a two piece conversation about the challenges that your city council has been having with citizens over the last several months. The two big challenges are; 1. the tax shift challenge and 2. how do we build the things we need to build. We have a 300-million-dollar tax hole, and the city wants to hear from you how we should solve this problem. On March 18th, council will present all the options and we encourage all citizens to tune into that meeting via live video. After that, we call on you, be ready to add your voice March 18- April 1 through online engagement and email. Get the background information in this video, and additional info coming in part 2.
The capital side of the city's budget has tightened up over the years and is looking to continue increasing service levels while reducing the cost of government. Since 2014, we have put 5 Billion dollars back into the city, keeping Calgarians employed, while building the city of the future. We have four big projects on the table, listen to Gian-Carlo explain the what and how's of this.