CALGARY (660 NEWS) – The Canadian Taxpayers Federation (CTF) released analysis showing Calgary households will have to pay an average of $2,000 each to host the 2026 Olympics.

Franco Terrazzano, The Alberta Director with the CTF says the estimate is optimistic.

“This $2,000 plus amount is really a best case scenario. That doesn’t include any cost overruns, that doesn’t include any interest payments, that doesn’t include any costs that may be hidden beneath the table, that also doesn’t include the price to attend Olympic events.”

Based on past cost overruns, the 2,000 dollar estimate could be much much higher.

Today @taxpayerDOTcom released the cost Calgary households should expect to pay for the Calgary 2026 Olympics. Best case scenario (No overruns, no more costs, full fed funding) = $2,000+/house Costs climb quickly w/ overruns! Full costs/numbers here: https://t.co/WmomqveUis — Franco Terrazzano (@franco_nomics) October 17, 2018

If the overruns equal what was seen for the ’88 Olympics, which was 65 per cent, Calgarians can expect to pay as much as $6,000 and if the overruns equal the average since 1960, the cost per household could be around $11,000.

Terrazzano says since the 1960s, 19 Olympics have been over budget.

For more details on the CTF report, click here.