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Ward 3 News: Municipal Non-Residential Phased Tax Program

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Ward 3 official website 
On January 23 City Council approved the Municipal Non-Residential Phased Tax Program to assist non-residential property owners affected by the economic downturn, while continuing to focus on building a great city.

Under this program, the 2017 non-residential municipal property tax increase will be phased in by limiting the increase in 2017 to 5%, not including the effect of business tax consolidation or any provincial property tax requisition.

It is expected that approximately 6,000 non-residential properties will benefit from the program and no application is required. The phased-in tax increase will be applied to the 2017 municipal non-residential tax bill going out in May. The goal of the program is to provide economic benefit to non-residential property owners greatly impacted by the 2017 assessment process. It is expected that in turn, a positive economic benefit will be realized by business tenants of the non-residential properties.

The cost of this one-time program is estimated to be $45 million, funded by a transfer from the Community Economic Resiliency Fund from intentional savings in 2016 Corporate Programs. It will have no impact on the Council-approved 1.5 per cent property tax rebate that applies to all non-residential and residential property accounts.

With the addition of the $45 million, the total benefits approved through the Mid-Cycle Adjustments process amount to $228 million. Of this, approximately $113 million in benefits is directed at municipal non-residential property owners.

Non-residential property owners are encouraged to use The City’s tax calculator to determine if they are eligible for the program and to view their estimated 2017 tax amount. The calculator will be updated to reflect the Phased Tax Program this week. Visit www.calgary.ca/ourfinances for more information.

 


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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