Close X
Byron Company

Barristers Solicitors Notaries

Free 30-Minute Consultations Schedule Your Appointment
780-715-1002

Commercial real estate and Calgary's mayor at odds?

Cow Town's mayor Naheed Nenshi is not in the good books of small business owners lately. The mayor of Alberta's largest city has been at the helm of a hefty hike in property taxes for some small businesses, making the foray into commercial real estate difficult. Taxes have increased at other government levels as well, so many owners of small businesses are feeling the pressure, while the mayor is in the hot seat.

Calgary has just been starting to get over a nasty economic low that resulted from a deep drop in oil prices. The province suffered untold job losses with the effect being felt in all economic areas -- especially at the small business level. In a recent report, the Canadian Federation of Independent Business (CFIB) indicated that Calgary's commercial real estate owners are paying almost four times more in taxes than residential owners on properties around the same value. 

Meanwhile, the mayor said a cap has been placed on small business taxes. He is hoping the move will help. He also indicated he is looking into revamping the city's procurement process to make it less difficult for small business owners to sell their products and services to the City of Calgary.

Venturing into commercial real estate can be both an exciting and complicated undertaking. Having the help of an Alberta lawyer who has experience in real estate law may be a good starting point. A lawyer would be able to look over any pertinent documents and offers prior to them being signed. Whether someone is purchasing or selling real estate, a lawyer will always have his or her clients' best interests at heart.

Source: theglobeandmail.com, "Calgary Mayor Naheed Nenshi risks losing city's small businesses", Mario Toneguzzi, Sept. 21, 2017

No Comments

Leave a comment
Comment Information

Let Us Review Your Legal Issue

Serving Fort McMurray And Surrounding Communities
10011 Fraser Ave.
Fort McMurray, AB T9H 2C8

Phone: 780-715-1002
Fax: 780-715-1099
Map & Directions

View Full Map View Full Map
Back To Top