Business and residential tax share
We are committed to:
the city of calgary
- Continuing to engage citizens and working together to ensure our service commitments are aligned with Calgarians' priorities and delivered in a fiscally responsible manner.
- Working with Council to reduce service delivery costs.
- Addressing the "tax share" challenges.
Here's what we've been up to
What's been done?
- Council established the Opportunity Calgary Investment Fund (OCIF) with a $100M investment. The OCIF supports projects that will serve as a catalyst for economic growth, diversification, and increased employment.
- Achieved $614M in operating cost savings, efficiencies and reductions (2015-2018) to address citizen priorities and needs.
- Provided $130M one-time tax mitigation through the 2019 Phased Tax Program to address concerns of business owners.
- Implemented base budget reductions of $60M for 2019 in July to support the 2019 Phased Tax Program. In 2020, these operating reductions will be applied to reduce non-residential property tax as directed by Council.
What's in the works?
- Engaging Calgarians in meaningful dialogue to obtain feedback on service plans and budgets. This will help Council make informed budget decisions.
- Reviewing City services and subservices to ensure alignment with the wants and needs of Calgarians.
- Preparing options to reduce the previously approved Council tax rate for 2020, from 3.03% to 1.5% or 0%.
- Working with the Financial Task Force to advocate with other orders of government to establish sustainable tax policies and review alternate revenue options in the new economy.