Budget adjustments and tax shift approved in 9-6 vote

Calgary homeowners will face a 7.8 per cent municipal property tax increase next year following budget deliberations at city council Wednesday.

Previous budget discussions resulted in a 3.4 per cent property tax increase for 2024, but following adjustments, the figure has increased to generate funding for a number of projects, including the city’s housing and mental health strategies.

Council also voted to shift the tax burden from businesses to homeowners by one percentage point in 2024.

The budget adjustments were approved in a 9-6 vote. The resulting increase would translate to about $16 more each month for the median priced house worth $610,000.

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