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Your assessment is based on the market value of your property.
Each year your assessment is based on the market conditions of July 1 of the previous year. So for 2018, your market value is based on the real estate market as of July 1, 2017. The assessment also reflects the physical condition of your home on as it existed on December 31, 2017.
Camrose City Council had budgeted for a 1.34% municipal tax increase using new assessment growth to minimize the tax increase. With growth coming in under expectation the municipal levy has increased by 1.57%.
Yes the education levy as set by the Provincial government has increased has increased significantly. The levy for residential properties in particular has increased by 9%. Non-residential property owners will see a smaller increase in the education levy of 2.5%.
No the lodge authority levy as set by the Provincial government has remained relatively unchanged.
A typical property will see a total tax increase of 3% when factoring in changes to all three levies; municipal, school, and lodge.
Camrose City Council cannot set individual tax bills. They control the overall tax dollars collected from all the citizens of Camrose. Individual tax bills are determined by applying the municipal, education, and lodge tax rates to the assessment of your property. Several factors affect your tax notice.
The taxes you pay to fund the education system in Alberta have changed in 2018. This amount is set by the Provincial Government not Camrose City Council. The increase in provincial education tax is 9% for residential property owners.
Properties that have experienced real growth will see a tax increase. Changes to the property including construction, renovations, and additions are all considered real growth.
The change in your assessment can also cause the property taxes you pay to increase, remain unchanged or decrease. For the 2018 tax year, the total assessment for all residential properties decreased by 5.8%. In order to determine if you will see a tax increase or decrease, compare the per cent change in the assessed value of your home with the overall increase in residential assessment in the City.
If your property assessment decreased 5.8% your total taxes will increase 3% for the 2018 tax year. If your property assessment decreased less than 5.8% or increased, you can expect the increase in the total of your property taxes to be more than 3%. If your assessment decreased more than 5.8% or decreased you can expect to see a total tax increase less than 3%.
Residential typical properties should see a total property tax increase of approximately 3% (when the changes in school and lodge authority requisitions are factored in).
Non-residential typical properties should see a total property increase of approximately 1.6% (when the changes in school and lodge authority requisitions are factored in).
A tax shift is when certain properties or property types change in a value at a different rate than others. For the current year both hotels and box stores are dropping in assessed value at a more significant rate some of the other property types. The result of this assessment shift is other non-residential properties will pay more taxes as the tax burden shifts to them and most non-residential properties will see greater then a 1.6% tax increase.
The amount of tax dollars required to operate a municipality can differ greatly. The services offered, as well as service levels, vary from municipality to municipality. The other factor to consider is who is paying the majority of the property taxes. Some municipalities have properties like pipelines paying large amounts of property tax, while others municipalities do not.
In person – 5204 50 Avenue
By phone -Taxation Staff – (780) 672-4426Assessment Staff – (780) 678-3032
By Email - firstname.lastname@example.org or email@example.com