CALGARY - A multimillion-dollar tax surplus that the City of Calgary was deciding what to do with is going to be put toward flood rebuilding costs.

City councillors announced in April that there would be an extra $ 52 million in the budget due to a discrepancy in taxes.

The mayor and councillors debated five different ways to spend the money, including lowering taxes for businesses and investing in older neighbourhoods.

They also held public consultations to see how taxpayers thought the money would be best spent.

After the city was rocked by devastating floods in June, Mayor Naheed Nenshi suggested the money should be used to help pay for flood repairs.

Councillors have now voted in favour of Nenshi's motion.

The city has pegged the initial cost of the flood at almost $257 million. That includes damage to parks, the Calgary Zoo, riverbanks and city hall.

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  • Alberta Premier Alison Redford thanks Capt. Jill Bristow for rescue and relief efforts by her and 2,200 Canadian Forces members in Southern Alberta. Bristow, a pilot with 417 Squadron in Cold Lake, and the rest of her chopper crew pulled people from raging floodwaters in High River on June 20, 2013.

  • A young girl hugs a Calgary police officer. " It's going to be ok," said one Twitter comment in response to the photo. Some commented on how the girl had done what many wanted to do to show their thanks.

  • Kevan Yaets crawled out the back window of his pick up truck with his cat Momo as the flood waters swept him downstream after submerging his truck in High River, Alberta on Thursday, June 20, 2013 after the Highwood River overflowed its banks.

  • Yeats later said he had no idea the cat would plunge into the water and nimbly swim across a flooded street to dry land.

  • Christine Bierman and Mickey Cimolai drive away through Canmore flood waters surrounding their rented condo. The couple had planned to get married the weekend of the flood, and almost called it off, until the community encouraged them to go ahead with it.

  • When the city of Calgary requested a few volunteers show up for cleanup efforts after the flood, thousands showed up instead.

  • Prime Minister Stephen Harper said when touring the flooded region, "I've seen a little bit of flooding in Calgary before," he said. "I don't think any of us have seen anything like this."

  • Edmonton police officers arrived in Calgary to offer their support.

  • Alberta Premier Alison Redford runs into superman, also known as Jackson, who had been wearing the outfit for two days because he heard people were in trouble. "He just happened to be taking a break from saving the world when he ran into Premier Redford. Thank you, Jackson, for making today a little happier for all of us," a statement on Redford's Facebook account read.

  • Krystal Lelond of Black Diamond clutches her cat Pipi after being evacuated from her home after the Sheep River overflowed its banks.

  • Calgary mayor Naheed Nenshi runs into three young helpers who are raising funds for Red Cross by selling lemonade and cookies.

  • Volunteers from AMP90.3 bring coffee to Edmonton Police Officers who headed to Calgary to help their neighbours.

  • A Tim Hortons gift card is left on the window of a police cruiser in Calgary.

  • Alberta Premier Alison Redford reacts to the devastating aftermath of the flood.

  • Cookies along with a thank you card are left on a police cruiser in Calgary.

  • A convoy of military vehicles makes its way through a flooded highway before heading in to the flood zone in High River, Alta. on Saturday June 22, 2013 after the Highwood River overflowed its banks.

  • Aerial photos of Canmore and Calgary flooding:

  • A washed out foot bridge lies on the creek bed in Canmore, Alta. Friday, June 21, 2013.

  • Flood waters surround the hospital in Canmore, Alta. on Friday, June 21, 2013.

  • Flood waters surround buildings in Canmore, Alta. Friday, June 21, 2013.

  • Cougar Creek runs through the Trans Canada Highway during heavy floods in Canmore, Alta. Friday, June 21, 2013.

  • Cougar Creek runs through the Trans Canada Highway during heavy floods in Canmore, Alta. Friday, June 21, 2013.

  • Road damaged is shown looking west along the Trans-Canada Highway in Canmore, Alberta on Friday June 21, 2013.

  • Heavy equipment operators work to keep up with debris, as Cougar Creek pours over the Trans-Canada Highway near Canmore, Alberta on Friday June 21, 2013.

  • Cougar Creek runs through the Trans Canada Highway during heavy floods in Canmore, Alta. Friday, June 21, 2013.

  • Cougar Creek runs through the Trans Canada Highway during heavy floods in Canmore, Alta. Friday, June 21, 2013.

  • Cars and trucks sit on the road looking east along the Trans-Canada Highway from Canmore, Alberta on Friday June 21, 2013.

  • The Calgary Stampede grounds are immersed in water during heavy flooding in Calgary, Saturday, June 22, 2013.

  • The Calgary Stampede grounds are immersed in water during heavy flooding in Calgary, Saturday, June 22, 2013.

  • The Calgary Stampede grounds are immersed in water during heavy flooding in Calgary, Saturday, June 22, 2013.

  • A flooded downtown Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded downtown Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded downtown Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded downtown Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded downtown Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

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    A flooded Calgary is seen from a aerial view of the city Saturday, June 22, 2013.

  • A flooded Calgary is seen from above, June 22, 2013.

  • The Calgary Stampede grounds are immersed in water during heavy flooding in Calgary, Saturday, June 22, 2013.

  • In this aerial photo, the flooded Cougar Creek runs through Canmore, Alberta, on Friday June 21, 2013. Communities throughout southern Alberta are dealing with overflowing rivers that have washed out roads and bridges, inundated homes and turned streets into dirt-brown tributaries. (AP Photo/The Canadian Press, Jonathan Hayward)

  • A man rides his bike as another picks his up in the flooded streets of Calgary, Alberta on Friday June 21, 2013. Alberta's largest city was swamped Friday by floodwaters that submerged much of the lower bowl of the Saddledome hockey arena, displaced tens of thousands of people and forced the evacuation of the downtown core. (AP Photo/The Canadian Press, Jonathan Hayward)

  • PM tours floods in Alberta

  • Calgary Flooding: Stephen Harper Visits A Submerged Alberta

    Prime Minister Stephen Harper, left, walks to a waiting helicopter with Alberta Premier Alison Redford, right, and Calgary Mayor Naheed Nenshi, for an aerial tour of flooding in Calgary, Alta.

  • A wall is reserved for messages and missing people at the arena in Blackie, Alberta on Friday June 21, 2013 after the Highwood River, overflowed its banks Thursday. The Red Cross is using the arena to house evacuees of the High River flood. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Jordan Verlage)

  • Displaced residents sleep on cots at the arena in Blackie, Alberta on Friday June 21, 2013 after the Highwood River, overflowed its banks Thursday. The Red Cross is using the arena to house evacuees of the High River flood. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Jordan Verlage)

  • Water rushes through what is left of Lions Park as the Sheep River flows through Okotoks, Alberta on Friday June 21, 2013 after the river overflowed its banks Thursday. The town remains on a flood watch. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Jordan Verlage)

  • A home in the community of Bowness is flooded as up to 100,000 people have been evacuated from their homes in Calgary, Alberta, on Friday, June 21, 2013. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Nathan Denette)

  • Cody Chatfield

    Resident Cody Chatfield drives his lifted 4x4 through his neighborhood looking at the flooded homes in the community of Bowness as up to 100,000 people have been evacuated from their homes in Calgary, Alberta, on Friday, June 21, 2013. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Nathan Denette)

  • Water flows past flooded vehicles in the community of Bowness as up to 100,000 people have been evacuated from their homes in Calgary, Alberta, on Friday, June 21, 2013. Floodwaters that devastated much of southern Alberta left at least two people dead and forced officials in the western Canadian city of Calgary on Friday to order the evacuation of its entire downtown, as the waters reached the 10th row of the city's hockey arena. (AP Photo/The Canadian Press, Nathan Denette)

  • Vehicles are stranded in the flooded streets of Calgary, Alberta on Friday June 21, 2013. Alberta's largest city was swamped Friday by floodwaters that submerged much of the lower bowl of the Saddledome hockey arena, displaced tens of thousands of people and forced the evacuation of the downtown core. (AP Photo/The Canadian Press, Jonathan Hayward)

  • This aerial photo shows the closed Trans-Canada Highway in Canmore, Alberta, on Friday June 21, 2013. Flooding forced the western Canadian city of Calgary to order the evacuation of the entire downtown area on Friday, as the waters reached the 10th row of the city’s hockey arena. Communities throughout southern Alberta are dealing with overflowing rivers that have washed out roads and bridges, inundated homes and turned streets into dirt-brown tributaries. About 350,000 people work in downtown Calgary on a typical day. (AP Photo/The Canadian Press, Jonathan Hayward)