Edmonton council sets final property tax rate for 2017
Edmonton city councillors finalized the property tax rate for 2017 on Tuesday, with an overall increase for a typical, single-family home coming in at 3.3 per cent.
Annual property taxes for a typical house valued at $397,000 will total $3,378, up $108 from the year before.
Of that amount, $2,385 will go to the city (an increase of $80) and $993 to the province (an increase of $28) for education tax.
The values of most properties in Edmonton are down this year due to what the city calls "a reflection of a slowing economy."
The city uses a "market-value" method to determine assessments. Most property types saw decreases in assessed values as of July 1, 2016, the date they were recorded, the city said.
The value of a typical single-family detached home dropped by 2.7 per cent, from $408,000 to $397,000.
For homeowners who pay taxes in monthly instalments, the bill for the typical single-family house will be $281, up $9 a month from 2016.
Tax notices will be mailed to all property owners on May 23. The deadline to pay is June 30.
