City of Calgary posts and then immediately spends $65 million surplus
Calgary Ward 13 Councillor Dan MacLean posted a video to his Facebook page Friday morning of the November 25 council meeting where the tax surplus was both announced and then quickly dispensed of, according to MacLean.
"BREAKING: This morning we learned The City of Calgary has a $65,000,000 SURPLUS! I was hoping that these funds could have been returned to taxpayers to assist with inflationary pressures.
Instead, City Council spent the entire surplus by noon. Do you agree with me that the budget surplus should have been used to lower the proposed 20% property tax increase (5% per year) in the 2023-2026 Budget?
Calgary City Council raised property taxes in March.
#yyccc approves this year's property tax rate. It is a 3.61% increase (munic/prov combined). For last year, council approved a 0.2 pc tax decrease for 2021.
— Scott Dippel (@CBCScott) March 30, 2022
A median-priced Calgary home assessed at $485,000 would bear a combined property tax increase of $172 for this year.
Sheila Gunn Reid
Chief Reporter
Sheila Gunn Reid is the Editor-in-Chief, Alberta Bureau Chief, member of the board of directors, and host of The Gunn Show at Rebel News. Sheila also serves as President of the Independent Press Gallery of Canada. A mother of three and longtime conservative activist, Sheila is the author of bestselling books, including her most recent release, Independence Blueprint: What Alberta Can Learn From Quebec.
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