Blueprint for Success - Press Release October, 2021
I believe I help get Calgary back on track to resurrect, recover, rebuild, and lead to a more prosperous future for all.
As a Commercial Broker in our city for decades, I am passionate about helping make Calgary affordable for businesses and entrepreneurs.
It's no secret that our business community has been amongst some of the hardest hit by the effects of the pandemic and the economic downturn in our oil and gas sector. This is why I believe it is vital that our elected leaders do more to make it easier for businesses in our community to thrive and create economic opportunities that benefit everyone.
I’d like to discuss the commercial property tax rate in our city and why it needs to change.
Currently, the gap between commercial to residential property tax is 4 -1, which means Calgary's business owners are paying up to 4 times more than their residential counterparts on the same assessed property value.
The current commercial tax rate was predicated on a booming oil and gas industry but as Calgarians know, circumstances have changed drastically. The current rate is simply no longer workable and needs to change to reflect the economic realities our city is facing.
As Mayor of Calgary, I propose to bring the tax gap rate down to 2-1, helping to level the playing field for businesses in our community, allowing them to get back to work faster and keep their businesses financially viable as we weather these difficult times.
This policy is essential if we want to support business growth in our community.
But how do we pay for this?
The good news is that Calgary has viable economic options to cover reduced commercial property tax revenues without decreasing city services. I am proposing the selling of non-essential city assets.
Not only would this generate revenues that can be used to help us get through the economic downturn, it will also drive expansion of the city's tax base and diversification of the Calgary economy, thereby generating more revenues in the long run.
Furthermore, it will help to decrease city operating costs by removing depreciating assets and services from city responsibility. By privatizing non-essential city assets, we also give our businesses further opportunities to invest in our community and revitalize urban spaces.
As an accomplished experienced commercial broker, I believe I am the best person to negotiate a solid financial return on our assets. As Mayor of Calgary, I will bring my expertise and experience to the table to leverage the best.
We are facing unprecedented challenges, and Calgary deserves leadership that reflects the strength of the community. That is why I am passionate about serving as the next Mayor of Calgary.
Thank you for joining me today, and I encourage all Calgarians to get involved in their community.
On October 18th, Vote Grace Yan for a Fresh New Calgary!
