The amount you pay in municipal property tax is determined by two main factors:
- the assessed value of your property; and
- Coaldale's municipal tax rate.
A property assessment is an estimate of a property’s market value. In Alberta, property assessments must be completed by a qualified and independent assessor in accordance with provincial legislation. The Town of Coaldale does not determine a property’s assessed value.
Once a property has been assessed, the municipal tax rate is applied to calculate the amount of property tax owing. The tax rate represents the amount of tax charged for every $1,000 of assessed value. In Coaldale, separate tax rates are set for residential and non-residential properties. These rates are established annually by Council.
Recreation Tax
In addition to taxes calculated based on your property assessment and the municipal tax rate, your tax bill also includes a recreation levy of $10 per month, or $120 per year. Adopted in 2019, this levy helps fund capital costs associated with building the SHIFT Community Recreation Centre and Prairie Winds Secondary School.
Provincial Taxes
Finally, your tax bill includes two requisitions (taxes) collected on behalf of other organizations:
- The Alberta School Foundation; and
- The Green Acres Foundation.
These taxes are not set by the Town of Coaldale. They are based on separate tax rates established by the Province and the Green Acres Foundation.
As per Section 359 of the Municipal Government Act, the Town of Coaldale is REQUIRED to collect these requisitions as part of its annual municipal tax collection process.