Many Calgary businesses are waiting to learn how the city’s proposed four-year budget will impact their bottom line, as council prepares for deliberations later this month.
“Anytime there’s additional taxes or levies that are added on top of it, as a small business it’s difficult for us to pass it along to customers,” Papavacilopoulos told Global News.Click to share quote on Twitter: "Part of our thing is to try and stay competitive." According to those figures, property values of downtown AA class office space are also slowing rising; projected to rise nearly 13 per cent next year.Typical Calgary home to see 5.2 per cent property tax increase in proposed four-year budget
Although the rise in value means more property tax revenue for the city, which could “ease and balance the burden” on businesses outside the downtown core, Wallach said it’s not an overnight fix and the recovery will still take time.Calgary Mayor Jyoti Gondek said city council has some “tough decisions” ahead during deliberations, with the potential for a discussion on the distribution of property taxes across the city.
City council can shift the tax burden off businesses, but that would mean homes would need to take on more of the load.‘Working hard to maintain affordability’: Calgary city council gets first look at 4-year budget
The insatiable thirst for money the city of Calgary has is impossible to understand. Why would they even think to increase taxes when they reported a surplus to the budget. Thank you Oil&gas industry!
Greed