Understanding Property Taxes
Generally, your individual property assessment & taxes will change each year. Provincial legislation requires that an annual market value assessment be prepared for all properties. Budgets are also determined every year for municipal, library, Pioneer Housing Foundation and education. Both your property assessment and the budget process will affect your annual property tax bill.
For 2012 Tax Year:
Property assessment - Market Value (per July 1, 2011 valuation date)
Budget - Property Tax Revenue required to pay for programs and services
Tax rate - Property Tax Revenue Requirements divided by Total County Assessment
Per property share of tax - Each Property Assessment multiplied by Tax Rate
Property tax year - January 1 - December 31, taxes are due the last business day of June in the current year.
A Property's share of tax changes each year, for a combination of two reasons:
- There is a change in annual budget requirements for municipal operating, library operating, Pioneer Housing Foundation requisition and education requisition.
- A particular property assessment (market value) changed more or less than the average. In the case of residential properties, average residential market values decreased by approximately 2 per cent (July 1, 2010 to July 1, 2011).
If your residential assessment stayed approximately the same or increased, you will generally have a total 2012 tax increase greater than the average.
Phone 780-464-8196, 780-464-8122, 780-464-8019
Email assess@strathcona.ab.ca
Last updated: Wednesday, January 25, 2012
Page ID: 3594