Understanding property taxes
Assessment and Tax Notice
- Phone: 780-464-8196
- Email: firstname.lastname@example.org
Property assessment - the process of placing a dollar value on property for taxation purposes. Provincial legislation requires that an annual market value assessment be prepared for all properties (the valuation date is July 1, of the year preceding the tax year) and that the condition of the property be recorded (the condition date is December 31 of the year preceding the tax year).
Property taxation - the process of calculating a tax by multiplying the assessment by a tax rate.
Property tax year - January 1 - December 31. Taxes are due the last business day of June in the current year.
Budget - the annual calculation of income and expenditures determines the property tax revenue required to pay for municipal programs and services, as well as library and Heartland Housing Foundation.
Tax rate - calculated based on the amount of property tax revenue that is required to support municipal operations (the property tax revenue requirement divided by total County assessment).
Per property share of tax - each property assessment multiplied by a tax rate. 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, library, Heartland Housing Foundation or the Provincial Education requisition.
- A particular property assessment (market value) changed more or less than the average. Properties may see a decrease more or less than the average, depending on how their property assessment changed relative to the average.
Local improvement - a local improvement is a project, approved by County Council, that is considered a greater benefit to a specified area within a municipality, rather than to the whole municipality. Some common examples include sewer infrastructure and roadworks.
A local improvement charge indicates the annual amount a property owner is required to pay to the County over a specified number of years, for projects constructed in the benefiting areas. Local improvements can be paid out any time during the amortization period to avoid future charges. Payout information can be obtained through the County's Financial Services Department.
Provincial education tax requisition - all Alberta municipalities are required to collect education taxes on behalf the Government of Alberta. The provincial education requisition generates the tax revenue necessary to meet this requirement.
School support notices are sent to all new owners or as requested.
Government of Alberta - Education property tax inquiries: