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Ward 8 News: 2017 Non-Residential Phased Tax Program

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Ward 8 official website
As we find ourselves settling into 2017, there’s no denying that Calgary has experienced dramatic change. In less than two years, we’ve gone from the fastest growing city in North America, with a projected growth of 40,000 people per year, to experiencing a significant economic downturn, a 40% downtown office vacancy and almost no growth. The ripple effects of this significant downturn have been felt by every industry and community in Calgary. My office and I have been hearing from concerned residents who have been asking important questions on subjects like taxes, infrastructure, spending and the economy. These conversations have led my office to propose business tax relief, continued investment in infrastructure for neighbourhoods that have been and continue to take on density and to host a summit on innovative solutions for our downtown office vacancies. While our city’s economic landscape may have shifted, Calgarian’s spirit for innovation, exploration and prosperity has always remained.
In January, as property assessments were mailed out, hundreds of businesses in Ward 8 found themselves saddled with a drastic increase in their property value. The drop in downtown office vacancy meant that the City saw a loss of nearly $2 Billion in assessed value and that tax base had to then be dispersed to non-residential properties city-wide.  Thankfully, as a result of my 2016 Business Tax Relief notice of motion Council and Administration were able to bring forth a successful $45 Million Municipal Non-Residential Phased Tax Program (PTP) to help ease the burden.  This means that nearly 6,000 businesses – many of which reside in The Beltline, will see their non-residential property taxes capped at an increase of 5%.  To learn more or to see if you qualify, visit this link.
While the PTP is only valid for 2017, I’m working closely with the Chamber of Commerce and Calgary Economic Development to continue to explore ways to diversify our economy. In partnership with Councillor Druh Farrell, our Downtown Economic Summit in February helped to illuminate new possibilities and opportunities for our downtown core. In terms of diversification, the City and Calgary Economic Development are actively seeking global businesses to establish head quarters in Calgary and to capitalize on the ever growing technology focused start-up industry.
I’ve always said and will continue to say to anyone who asks: Calgary is an incredible city to live in. Every month I’m blown away by community members volunteering their time to keep making their neighbourhoods even better, by the steady stream of new local businesses taking the leap and opening their doors and by a city filled with people who are here to support them. If you ever have any questions, concerns or ideas my office is here to help. You can reach us by email at ward08@calgary.ca or by phone at 403-268-2431.

 

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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