Council’s executive committee received the 2023 preliminary assessment roll, which gives a picture of the assessed value of properties across the city.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc.
It showed that residential property values are up 15.4 per cent across the city, while non-residential properties are up 6.3 per cent, reflecting the real estate boom across Canada. Based on those numbers, and how much money the city anticipates it will need in 2023, administration suggested it will be not only possible but necessary to reduce the city’s tax rate.
Under the city’s revenue neutral tax system, it first determines how much money it needs and then sets the mill rate to collect that target amount based on assessed property values.Article content
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