Calgary municipal property taxes to rise 3.8% in 2018
Owner of median-assessed house — worth $460K — will pay $5.95 more a month, or $71.40 annually
Calgary homeowners will see the municipal side of their property taxes go up by 3.8 per cent next year following city council's adjustments to the 2018 budget.
That means the owner of a median-assessed house — worth $460,000 — will pay $5.95 more a month, or $71.40 more on the municipal portion of their property tax bill next year.
It also means there will be about $28 million in program spending cuts at city hall — and 156 city jobs will be cut. There's no word yet, however, on how many layoffs will actually occur.
Council also approved a $45 million package Thursday to ensure business owners won't see their property taxes increase by more than five per cent next year. That money will come from the city's fiscal stability reserve, which is expected to be increased by $50 million this year.
End of 4-year budget
Council earlier voted to give the Calgary Police Service $20 million more next year — accounting for 0.8 per cent of the overall increase — and to reverse cuts in bus service at Calgary Transit.
Another 1.4 per cent of the hike comes from council's decision to keep $24 million in annual tax room vacated by the province, which will be used to pay for future financing on the Green Line LRT.
The remaining 1.5 per cent increase is the result of council voting to refund that amount to homeowners in 2017 through the city's fiscal reserves, which has to be made up next year.
Next year marks the end of a four-year budget at the city, which has been seriously overhauled through the recession.
The province will set the educational portion of property taxes in the spring.
A number of city fees are also set to increase on Jan. 1, 2018.
The cost of a monthly transit pass will rise $2 to $103 a month, while a single adult ticket will go up five cents to $3.30.
A monthly youth transit pass will go up $5 to $70 on Jan. 1 then up to $75 on Sept. 1 of next year.
Garbage collection fees will stay the same at $4.90 a month while the blue cart fee will rise 20 cents to $8.50.
Calgarians will also begin paying $6.50 a month for green cart collection in 2018.
With files from Scott Dippel