Your property assessment is used to determine your share of the total property taxes your City needs to provide the services and infrastructure, as established in the annual budget.
The change in your property assessment compared to the overall change for all property in your assessment class determines whether you will pay more, less, or the same as the average property tax increase.
Overall, Lethbridge property assessments for single family residential homes increased about .4% on average, as of July 1, 2015, compared to the previous year's assessments. Multi-family residential (buildings with 3 or more units) and non-residential properties saw an increase of 2.3% and -.2%, respectively, on average.
If your tax bill is either higher or lower than last year, it may be due to:
- a change in the Provincial Education tax required by Alberta Learning and distributed to the Public and Separate School Boards.
- a change in the tax requirements of the Green Acres Foundation necessary for the operation of their senior facilities and supports.
- a change in the City's overall budget to meet the demands for City services.
- a change in your property's assessed market value if it is higher or lower than the average change in property values City wide.