Calgary council passes 2024 budget adjustments, residential property taxes to jump 7.8 per cent

Calgary councillors have approved a budget that includes a 7.8% increase in residential property taxes for 2024. The move aims to address transit and safety issues and shift more of the tax burden from businesses to residents. Non-residential property owners will see a 3.5% tax increase. Despite attempts to cut spending or provide relief, none of the proposed amendments to reduce the tax increase were successful. The Calgary Chamber of Commerce sees the decision as a step in the right direction but believes more needs to be done to support businesses. Property tax assessments will be mailed out in the new year, with bills due by the end of June.

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