Calgary administration is pegging a total 5.2 per cent 2023 residential property tax increase for the typical single family residential property owner.
The City of Calgary unveiled their 2023-2026 service plans and budget on Tuesday, expecting a growth in overall budget of roughly $300 million by 2026. ($4.6 billion to $4.9 billion)
The average annual increase in tax collection over the four years is 3.7 per cent for all properties, the city said. Because of the difference in property assessment between certain property classes, single family homeowners will bear an additional 1.5 (total 5.2) per cent increase in 2023.
For a typical $555,000 single residential home, it means an increase of $118 for the year, or $10 per month. A typical condo, valued at $253,000 would see a decrease of $1 per month.
