Council sets 2018 indicative tax rate
Council has approved an indicative tax rate of 0 to 2% for 2018. This range of property tax rate increases will help City staff prepare options for adjustments
to 2018 business plans and budgets for Council’s approval in November 2017.
Here are some common questions related to this topic:
What is an indicative tax rate?
The indicative rate is Council’s direction on the tax rate that will guide Administration’s preparation of adjustments to the 2018 business plans and budgets.
What indicative tax rate did Council set?
In order to keep the impacts to a manageable level, Council approved an indicative tax rate increase in the range of 0 to 2% for 2018. This amounts to a minimum reduction of 2.7% from the previously approved tax rate increase of 4.7% in 2018 and will result in a reduction to the operating budget of at least $43 million.
How does Council set indicative rates? Council considers the financial implications of various tax rate options and impacts on citizens. This includes things like changes in the economy and population, inflation, and changes in financial forecasts and risks.
Now that the indicative tax rate has been set, Administration will spend the next few months working together to propose adjustments to programs and services that fit within the indicative tax rate increase. The rates and fees will be finalized by the new Council in late November.
Questions about the indicative tax rates set by City Council? Visit this page for more information.
(cross-posted from Calgary City News Blog)