Report on impact of economic downturn hits City Hall
Posted May 30, 2016 7:28 am.
Last Updated May 30, 2016 8:33 am.
This article is more than 5 years old.
Taxes will be on the agenda at Calgary City council Monday.
A report is going forward on the impact of the economic downturn on revenue for 2017.
Administration is forecasting a shortfall for 2017 of $20-million, which would add up to an extra 1.3 per cent increase on Calgarians’ tax bills.
The previously approved increase for next year is 4.7 per cent.
The report looks at a number or ways to mitigate the losses, but because of the uncertainty about the economy, staff wants to put off discussion of the 2018 tax year until the spring of next year.
Council will be getting together again June 29 for a strategic session on city finances.
