Progress on tax relief for struggling businesses

December 15, 2015

On Friday, December 11, 2015 your Calgary Chamber said we would work for you to help create meaningful steps to support struggling businesses in our city.

We are pleased to report back that on Monday, December 14, 2015, City Council adopted a motion specifically directing City administration to work with the Chamber to develop a non-residential property tax deferment program to provide temporary relief for businesses facing financial hardship.

The economic downturn has hit many Calgary businesses especially hard, and cash flow and revenue have been significantly impaired. These circumstances can make it exceedingly difficult for some businesses to meet their property tax obligations, and today’s motion signifies Council’s willingness to explore ways in which The City can be of assistance.

In the coming weeks, the Chamber will be working directly with The City to assess the feasibility of a property tax deferment program, and develop guidelines to help inform the City’s assessment of a business’ financial hardship. We look forward to returning to Council in February with a draft policy and implementation plan for their thoughtful review and adoption.

This is another example of how the Chamber works to support your business and a competitive city every day, even when you are sleeping.

Adam Legge is the President and CEO of the Calgary Chamber.