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3 k+ ~+ ^2 M. P: ?- mLZ is right. Please read carefully.
+ d) s2 z+ d& Y LCBC News:7 b4 I- Y% s/ V' H5 j* ]1 k" h7 n* r
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." N: B, V3 @& }3 [: G7 b
: F1 A! {0 }0 d: @8 w, D* JAnnual property taxes for a typical house valued at $397,000 will total $3,378, up $108 from the year before.- u) n% T( j8 L3 S0 C
6 ]1 f' j% W* r! K: u' B* i7 aOf 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.
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+ X8 e! x P( ]7 N# j" jThe values of most properties in Edmonton are down this year due to what the city calls "a reflection of a slowing economy."
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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.
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' Q+ V, h7 [2 O, D0 ~3 NThe value of a typical single-family detached home dropped by 2.7 per cent, from $408,000 to $397,000.
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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., _4 E8 F: Q3 ]4 y
^* T* E6 u3 p8 {Tax notices will be mailed to all property owners on May 23. The deadline to pay is June 30. |
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