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Calgary city council votes to freeze property taxes in 2017

Click to play video: 'Calgary council votes to freeze 2017 taxes' Calgary council votes to freeze 2017 taxes
WATCH: Calgary city council voted to freeze taxes property taxes next year. Doug Vaessen has details. – Jun 28, 2016

Calgary city council voted unanimously to freeze property taxes in 2017.

The motion put forward by Ward 1 councilor Ward Sutherland on Monday suggested a 1.5 per cent tax hike next year. However, councillors voted to offset the increase with a one-time withdrawal of about $22.5 million from the Fiscal Stability Reserve (FSR.)

The money removed from the FSR – more commonly known as the city’s “rainy day fund” – will have to be repaid at some point. However, Calgary Mayor Naheed Nenshi said on Monday he’s sure the city will be able to find a way to do that.

“I am comfortable that we will be able to find that money either in 2018 – or continue the one-time rebate in 2018, or until a point where the economy recovers.”

On Monday, councillors also approved a freeze on user fees, transit fares, recreation fees, park fees and pet licensing fees.

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– With files from Doug Vaessen 

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