CALGARY (660 NEWS) – A city councillor believes he’s found a way to level out the tax burden currently felt by small businesses outside of downtown Calgary.
Ward 8 Councillor Evan Woolley is planning to present a notice of motion on Monday to alleviate the tax burden on businesses through budget reductions and by evenly sharing the burden of the tax shift.
“Fairness and equity are core principles of mine and over the last number of years the inequity of our system has become a significant challenge for our business community,” said Woolley. “I believe that action needs to be taken through reductions to our city budget and by sharing more equally in decreases to the property values in the downtown.”
The first part of the plan calls for the City to cut its budget by $100 million followed by moving $80 million of the tax pool from business properties to residential landowners.
Finally, Woolley asks for a shift of $70 million away from downtown businesses to non-residential properties outside of the downtown core.
Non-residential property owners have seen taxes spike in the past couple years due to empty office space downtown, with the city dipping into the rainy day fund to try and help out.
Woolley said relying on mostly small and medium-sized businesses to make up the shortfall is unsustainable.