We will be mailing out your 2015 Property Assessment Notice on May 22. This bill covers the period from January 1 through December 31, 2015. If you are not participating in the Tax Instalment Prepayment Plan (TIPP), tax payment is due by June 30. An 8% penalty will be applied to all outstanding taxes after June 30.
Sign up for TIPP
If you would like an automatic way to pay your property tax, you can sign up for the TIPP program. Participation in TIPP means that you don’t have to worry about the payment deadline or late payment penalties. Your taxes are spread over the 10 months prior to the deadline, and the amount is withdrawn from your bank account automatically on the third day of each month from August to May. The Town pays interest on all TIPP accounts at a rate that is set annually by Council. It is designed to be competitive with current interest rates. When the changes in your assessment are known and the Mill Rates are set, a final payment will be withdrawn on the last business day in June to arrive at the correct amount. The final amount will be shown on your tax notice.
We’d like to give you some information about how the amount of taxes are calculated and how to pay.
About Property Assessments
Property assessments in Alberta are governed by the Municipal Government Act. Your Notice of Assessment is based on the valuation and physical condition of your property as of December 31 of the previous year. All assessed values are completed within these guidelines to ensure fairness and equity using mass appraisal techniques.
The purpose of assessment is not to reflect a single sale price, but to assess all properties at typical market value on the same valuation date so that taxation is fairly and uniformly shared. The Town of Cardston has contracted a qualified accredited assessor who performs this function based on provincial legislation and regulations.
How Market Value is Determined
Market value, as defined in the MGA, 1 (n), means “the amount that a property might be expected to realize if it is sold on the open market by a willing seller to a willing buyer.” Market value assessments are done using mass appraisal techniques, which determines property values by grouping similar properties as of July 31, of the previous year.
Some of the factors that determine the value of your home include style of house, square footage, lot size, basement finish, walkout, year of construction, overall quality, and location. Unique location influences like mountain and river views naturally lend themselves to an overall higher market value compared to other locations.
If you have questions or concerns regarding your property tax assessment, please call the Town Office.
Tax Bill Calculations
Municipalities levy taxes to help pay for services such as bylaw enforcement, fire, parks, recreation, library, and public works. Town Council reviews and approves the amount required to fund these services each year.
From this amount sources of revenue other than property taxes, such as provincial grants, license fees, and user fees, are subtracted. The balance after that is the amount to be collected through property taxes.
To determine the amount of your property tax, the assessed value of your property is multiplied by the combined Municipal, School, and Chinook Foundation (seniors care facility) Mill Rates for the year.
Paying Taxes Online
You can pay your taxes online through banks that offer online payment options. This is an easy process and we highly encourage you to investigate paying taxes this way, or through TIPP. To pay online, go to your bank’s online payment portal, use the six-digit “account number” shown on the top centre of your assessment notice, and pay the amount owing to TOWN OF CARDSTON TAXES or TOWN OF CARDSTON UTILITIES. Please pay for just one property at a time. You can contact your bank for more help or information.