Calgary's $52 Million Tax Surplus Going To Flood Rebuilding Costs

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Calgary's $52 million tax surplus going to flood rebuilding costs. | Getty

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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