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 Each year, City Council approves the amount of expenditures required to support City services.  From this amount, sources of revenue other than property taxes, such as provincial grants, license fees and user fees are subtracted.  The balance is the amount raised by property taxes.

In order to calculate taxes, a tax rate is established by City Council.  The tax rate reflects the amount of taxes to be paid for every $1 of assessed value.  The formula used to determine the tax rate is as follows:                                    
 

​Tax Rate = ​Total Revenue Required from Property Tax ​Divided By     ​Total Assessment

 
Your property taxes are calculated by multiplying the assessed value of your property by the tax rates:

​Property Tax Bill = ​Assessment ​Multiplied By ​ Municipal Tax Rate
​ ​Assessment ​​Multiplied By Education Tax Rate​
​ ​Assessment ​Multiplied By​ Green Acres Tax Rate​

 

The Education tax rate and the Green Acres Foundation tax rate are set once the City receives the annual requisitions from the Government of Alberta and Green Acres Foundation.  The amounts of the requisitions are not subject to review or approval by City Council.
 

Definition of Tax Rates/Mill Rates

 
A tax rate is the rate of taxation applied against the assessed value of property within a municipality to collect the revenue required by the various taxation authorities.  Normally, the tax rate is expressed in mills (dollars in tax paid per thousand dollars of assessed property value) or sometimes as a percentage of the property’s assessed value.  For example, a tax rate of 1.5% on a home valued at $100,000 would require the payment of $1,500 in annual property taxes.
  

2012 Mill Rate breakdown is as follows:

 

​​Single Family Residential Farmland Multi-Family Residential ​Non-Residential​ ​Machinery and Equipment
Municipal​ 6.732 6.279 9.455 16.816 16.816*​
​Provincial Education 2.623 2.623 2.623 3.371​ 0.000​
​Green Acres Foundation 0.122 0.122 0.122 0.122 0.000​
​Total: ​9.477 9.477 12.200 20.309 16.816*​
*Exempt by City bylaw
 

Tax Classifications

  • The Single Family Residential and Farmland Mill Rate for 2012 is 9.477.
  • The Multi-Family Residential Mill Rate for 2012 is 12.200. 
  • The Non-Residential Mill Rate for 2011 is 20.309.
  • Machinery and Equipment is exempt from taxation.

 Historic mill rates can be found here!