Preliminary budget documents obtained by Global News show the slew of funding requests from city departments under consideration by Calgary city council could result in a significant, double-digit property tax increase next year.
The confidential documents, which were presented to city council during a closed session meeting on July 28, indicate property tax revenue would need to increase by 20.2 per cent in 2027 to fund an additional $510 million in operating spending required to cover a number of budget requests from various city departments and partners.
Those funding requests, if approved, would also result in hikes over the ensuing years…
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