Calgary's business community disappointed as property tax burden set to rise yyc yyccc yycbiz
It means the business community will bear the brunt of a 4.4 per cent property tax increase approved last fall.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
“Inflation is affecting all of us. I get that. But I think there needs to be an understanding of what’s the economic engine of the city and this province, and it’s small business,” said Tony Militano, founder and owner of Carbon Graphics. “You cannot continually keep going back to businesses expecting them to pay for everything.”
He said if there is not money in the budget for a capital project, the city should re-examine its priorities on what it can afford.Article contentWhile the property tax split will remain at 52 per cent residential to 48 per cent non-residential, there are only 14,639 non-residential properties as opposed to 531,062 residential properties. In 2022, non-residential properties made up only 20 per cent of the assessment share, according to the city.The mill rate ratio is set to move from 3.8:1 to 4.
Calgary has the highest such ratio of similar-sized communities in Canada. The city, meanwhile, has some of the lowest residential taxes in the province. By comparison, the 48 per cent tax burden carried by non-residential property owners last year exceeds that of Edmonton , Vancouver and Toronto .Article content
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