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Ward 11 News: Phased Tax Program

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Over the past few weeks, many have written to my office about the tough situation many of our local businesses find themselves in. The vacancy rates and loss of jobs in our downtown core has increased the pressures on other businesses outside of our downtown core.

 

Part of the increase non-residential property owners are seeing  is due to the ongoing consolidation of the business tax into the non-residential property tax. And part of it is in the shift of the non-residential property value away from the city centre to the outer communities.

 

This morning, Council approved a strategy to help address pressures on Calgary’s non-residential property owners.

 

The 2017 Municipal Non-Residential Phased Tax Program (PTP) is a one-year program that was put in place to assist non-residential properties impacted by large shifts in market value in 2017. Under the PTP, non-residential municipal tax increases will be limited to five per cent (not including the effects of business tax consolidation or any provincial tax increase).

 

The PTP will assist an estimated 6,000  business property owners and approximately 9,000 businesses. This program will be funded by a transfer from the Community Economic Resiliency Fund, as well as savings found through departmental reviews and other initiatives last year.

 

It will likely cost $45 million to keep any increase to non-residential property taxes capped at 5%, excluding the effects of the tax consolidation. Please note this applies to The City’s property tax only, and that the Province will determine their requisition at a later date.

 

If you are a non-residential property owner or business owner check out the tax calculator to see if you will be eligible for the PTP.

 
 
Learn more about Assessment
 
 
 

 
This content represents the personal views and opinions of the Ward Councillor and should not be taken as a statement of policy of The City of Calgary. The inclusion of any external content does not imply endorsement by The City of Calgary.
 
 
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