Calgarians will be paying more than originally expected on their property tax bills this year, due in part to a larger provincial share bolstered by skyrocketing home prices.
Calgary city council finalized the property tax increase Tuesday, which includes how much the city has to pay to the province as part of its education property tax requisition.
Although city council approved its budget and property tax increase November, city officials must wait until the province tables its budget in the spring to determine the provincial portion of the tax bill.
“Once their budget came out, it was clear they were taking more money than had been anticipated,” Mayor Jyoti Gondek told reporters. “They weren’t reducing their rate so Calgarians will be paying more for their provincial portion than had been anticipated when we set our budget.”
The overall property tax increase for residential properties is now 8.6 per cent, which …