Calgary homeowners to face almost 4% property tax hike

Calgary homeowners will face higher property taxes in 2022 after city council passed an almost 4% tax hike to help fund downtown revitalization, climate action and service fire.

Council on Wednesday approved the increase in the municipal property tax rate of 3.87% for a homeowner who owns a single-family home with a median market value, as part of changes to the city’s 2022 budget, which was adopted by 11 votes to 4.

The property tax increase is about $ 6.20 per month for a typical residential house or an additional $ 74.40 per year.

It comes as the council has also increased funding for climate change and affordable housing, added more peace officers for Calgary transit, and expanded funding for snow and snow control. ice in the city, and other investments in the city center, arts and culture, public safety, roads and climate action.

Read: Canadians buy homes in high-risk climatic zones … without knowing it

“As a council, we have adopted a budget that provides a way forward by building on Calgary’s strengths while addressing the challenges arising from the aggravating crises we have faced as a city in recent years,” said said Mayor Jyoti Gondek.

“The investments we make will pay real dividends on the road to recovery. Calgarians deserve a return on their investment in their city, and today we have it.

Spending included $ 3 million for Calgary’s climate plan, which will include hiring 18 new employees to implement the city’s climate mitigation and adaptation plans, and additional funds to exchange more 75 urban vehicles against electric models. The move comes just weeks after Calgary’s declaration of a climate emergency.

The council also approved increased funding for affordable housing, with $ 10 million released to match federal housing dollars for the construction of 125 new homes.

There will also be specific user fee freezes or decreases in 2022, including blue, black and green cart rate freezes, and base fee reductions for building safety and security approval. development.

“The demand for our services remains high, our population is growing and inflation is rising,” said Carla Male, Chief Financial Officer. “We continue to manage these factors while working hard to support citizens and businesses in a financially sustainable way. “

The City said the impacts of specific tax rates will vary by property type based on the estimated value of a home or business, as well as next year’s provincial tax rate, which will be finalized in the first half of 2022.

As parts of Canada continue to take the brunt of global warming, it will be interesting to see if other cities follow Calgary’s footsteps and tax climate change through municipal property taxes.

Written by
Ainsley smith

When Ainsley isn’t writing about real estate, local developments, and the beautiful homes she would have liked to live in, you can usually find her exploring Toronto, cooking, exercising at home, or hanging out with her cat, Jerry Seinfeld.

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