News & Article

Calgary businesses want to pay less property tax: How much will that cost homeowners?

CBC NEWS CALGARY

At the mayoral forum hosted by the Calgary Chamber this week, something curious happened — none of the three candidates on stage would commit to meeting the tax-reduction targets the Chamber is calling for.

You might think these would-be mayors, courting the business vote in front of a business audience, would want to come across as business friendly.

That was true to an extent, but all three stopped short of fully supporting the Chamber's position on what's known as the tax rate ratio.

Right now, businesses pay about 3.8 times the rate of municipal tax compared to the rate that homeowners pay. (This figure is often quoted as 3.5 times higher, but it's actually even greater than that, for reasons we'll explain a moment.)

The Chamber wants the ratio reduced to 2.85-to-1 over the next four years, and then further reduced to 2-to-1 within a decade.

Print Print | Sitemap
© Tyma Services. All Rights Reserved.