Calgary plans to increase residential property taxes by 5.4% in the 2026 budget modification
In the heart of Alberta, Calgary is gearing up for a significant financial overhaul as the city council prepares to present the proposed 2026 budget. Here are some key points to note:
The proposed budget for 2026 is set to surge by $72 million, reaching a total of $613 million. This substantial increase will contribute to a variety of sectors, including public safety, affordable housing, and infrastructure.
One of the notable recommendations in the budget is a $61 million allocation for public safety in the coming year. This will help ensure the continued protection and well-being of Calgary's residents.
The Calgary Police Service (CPS) is not requesting additional funding for 21 new officers approved for next year, due to constraints on training capacity, training space, and trainers. However, the CPS has applied for a one-time $28 million grant to fill the funding gap caused by new provincial regulations for photo radar.
Affordable housing and downtown office-to-residential conversions are set to receive $78 million in the proposed budget. This investment aims to address housing affordability issues and stimulate urban growth.
Infrastructure is another priority area, with $68 million in proposed new spending. This allocation will be used for various facilities, streetlights, parks, and the Plus 15 network. Notably, $24 million will be set aside for pavement rehabilitation.
The proposed budget also includes a substantial amount for capital investments, totalling $3.6 billion. This investment will contribute to the city's long-term growth and development.
The full budget will be formally presented to the next city council on November 10, with public deliberations beginning on November 24. This provides an opportunity for citizens to voice their opinions and concerns about the proposed budget.
On a separate note, the U.S. is set to launch CUSMA consultations ahead of the scheduled trade pact review. Meanwhile, the Bank of Canada has delivered its first interest rate cut since March. These global economic developments may have implications for Calgary's financial landscape, although the extent of these impacts remains to be seen.
In conclusion, the proposed 2026 budget in Calgary promises to bring about significant changes across various sectors. As the city moves towards a brighter future, it's essential for residents to stay informed and engaged in the budgeting process.
