Report on impact of economic downturn hits City Hall

by 660 NEWS Staff Posted May 30, 2016 7:28 am MDT Last Updated May 30, 2016 at 8:33 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Taxes will be on the agenda at Calgary City council Monday.A report is going forward on the impact of the economic downturn on revenue for 2017.Administration is forecasting a shortfall for 2017 of $20-million, which would add up to an extra 1.3 per cent increase on Calgarians’ tax bills.The previously approved increase for next year is 4.7 per cent.The report looks at a number or ways to mitigate the losses, but because of the uncertainty about the economy, staff wants to put off discussion of the 2018 tax year until the spring of next year.Council will be getting together again June 29 for a strategic session on city finances. (Kaitlin Lee, 660 NEWS) Report on impact of economic downturn hits City Hall

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