Calgary Budget: City Council adopts a 7.8% tax hike in 2024.

By: 600011 On: Nov 23, 2023, 3:30 PM

Calgary City Council has authorized a 7.8 percent hike in property taxes for next year. The average homeowner may expect a $16 monthly rise in their property tax payment next year as a result of this. On Wednesday, the City Council approved the 2024 budget adjustment. After three days of consideration, including a day of public hearings and a day-long question-and-answer session with municipal officials, the municipal Council voted, for a 5% increase over last year. The property tax hike was authorized by the council on a 9-6 vote. Last year, a 3.4 percent increase was granted. The tax hike is the result of 28 new investment priorities recommended by City Funding for 2024, mainly in public safety and infrastructure.