Beyond Bending Tell You How
Edmonton, the capital city of the Canadian province of Alberta, has a property tax system in place that helps in funding the city’s infrastructure and services such as schools, hospitals, and public transportation. Property owners in Edmonton are required to pay property taxes annually, which are calculated based on the assessed value of their property. In this blog post, we will discuss everything you need to know about Edmonton property tax assessment, including how it works, what factors determine the assessment, and how to appeal your assessment if you disagree with it.
What is Property Tax Assessment?
Property tax assessment is the process of determining the value of a property for taxation purposes. In Edmonton, the property tax assessment is conducted by the City of Edmonton’s Assessment and Taxation branch. The assessment is done annually, and the tax rates are set by the City Council each year.
The City of Edmonton uses the market value approach to assess properties, which means that the assessment is based on the property’s market value as of July 1 of the previous year. The market value is the amount that a property would sell for on the open market, assuming a willing buyer and seller and no undue pressure to buy or sell.
Factors that Determine Property Tax Assessment
Several factors are considered when determining the assessed value of a property in Edmonton. These factors include:
- Location – The location of a property is a significant factor in determining its assessed value. Properties located in desirable areas with good infrastructure and amenities are likely to have a higher assessed value than those in less desirable locations.
- Size – The size of a property, including the land and any buildings on it, is also taken into account when determining its assessed value.
- Age and condition – The age and condition of a property are factors that can affect its assessed value. Older properties or those in poor condition may have a lower assessed value than newer or well-maintained properties.
- Comparable properties – The assessed value of a property is also influenced by the sale prices of comparable properties in the same area.
The City of Edmonton uses a computerized system to analyze these factors and determine the assessed value of each property in the city.
How to Appeal Your Property Tax Assessment
If you disagree with your property tax assessment, you have the right to appeal it. There are two types of appeals in Edmonton – the Assessment Review Board (ARB) and the Municipal Government Board (MGB) appeal.
The ARB is an independent body that reviews assessment complaints and makes decisions based on evidence presented by property owners and the City of Edmonton’s Assessment and Taxation branch. Property owners can file an appeal with the ARB within 60 days of receiving their assessment notice.
If you are not satisfied with the ARB’s decision, you can appeal to the MGB. The MGB is a provincial body that hears appeals from property owners who are dissatisfied with the ARB’s decision. The deadline for filing an MGB appeal is 30 days after receiving the ARB’s decision.
Understanding Property Tax Rates in Edmonton
Property tax rates in Edmonton are set by the City Council each year. The tax rate is expressed as a percentage of the assessed value of a property. In 2021, the residential property tax rate in Edmonton is 0.4610%, while the non-residential rate is 1.8180%. These rates may vary depending on the property’s location, size, and use.
It is important to note that property tax rates in Edmonton are not the only taxes that property owners are required to pay. Other taxes may include education taxes, special taxes, and local improvement taxes. These taxes are levied in addition to the property tax and vary depending on the location and type of property.
Important Dates for Property Tax Assessment in Edmonton
Property owners in Edmonton should be aware of the following important dates related to property tax assessment:
| January 1 | The assessment roll is prepared, and the assessed value of each property is determined. |
|---|---|
| February 28 | Property owners receive their assessment notice in the mail. |
| March 31 | The deadline for filing a complaint about your assessment with the ARB. |
| May 31 | The deadline for paying your property taxes in full without penalty. |
It is important to keep these dates in mind to avoid penalties and ensure that you have enough time to appeal your assessment if necessary.
FAQs about Edmonton Property Tax Assessment
How is property tax assessment calculated in Edmonton?
Property tax assessment in Edmonton is calculated based on the market value of a property as of July 1 of the previous year. Factors such as location, size, age, and condition of the property are also taken into account.
How often is property tax assessment done in Edmonton?
Property tax assessment in Edmonton is done annually, and property owners receive their assessment notice in the mail in February each year.
What should I do if I disagree with my property tax assessment?
If you disagree with your property tax assessment, you have the right to appeal it. You can file an appeal with the Assessment Review Board within 60 days of receiving your assessment notice.
What other taxes do property owners in Edmonton have to pay?
Property owners in Edmonton may have to pay other taxes in addition to property tax, such as education taxes, special taxes, and local improvement taxes. These taxes are levied based on the location and type of property.
When is the deadline for paying property taxes in Edmonton?
The deadline for paying property taxes in Edmonton in full without penalty is May 31.
Conclusion
Property tax assessment is an essential part of owning a property in Edmonton. Understanding how it works and what factors are considered when determining the assessed value of your property can help you plan your finances and avoid penalties. If you disagree with your assessment, you have the right to appeal it and have it reviewed by an independent body. By keeping important dates in mind and staying informed about property taxes in Edmonton, you can ensure that you are meeting your obligations as a property owner and contributing to the city’s development and growth.
