How is Market Assessment used to calculate my property taxes?
The assessment itself does not generate property taxes. The Town determines the amount of revenue required to be raised by taxes for maintaining and delivering services. The Government of Alberta determines the revenues required for education – the Town Council has no control or voice in the education portion of the taxes. Dividing the revenues required by the assessment produces the tax rate. A tax rate of 0.01234 is equal to $12.34 per $1,000 of assessment.
