Here’s where your 2017 property taxes and utility fees go — and the services you get for your money, every day.
Municipal property taxes are set by the City and account for approximately 70% of the total property tax amount stated on Edmonton homeowner’s annual tax notice. The calculation of each homeowner’s share of municipal property taxes is based on two factors:
- The budget (the amount the City requires to continue offering municipal programs and services).
- The total assessed value of all properties in our city.
These two factors determine the municipal tax rate, which distributes the costs of services among all Edmonton properties, in the following manner:
budget ÷ total assessed value of all properties
municipal tax rate
Then, to determine the exact amount each homeowner is required to pay, the City applies this tax rate to the value of your property in the following manner:
your property assessed value x municipal tax rate
your municipal property taxes
Overall, changes in property values do not affect the amount the City requires to continue providing municipal programs and services. If your property’s assessed value changes more or less than the average change in Edmonton, your tax increase will be more or less than the average tax increase.
In 2016, property taxes collected from residential and commercial properties account for approximately 56% of the City’s spending on operations. Other sources of revenue include grants, investment earnings, utility and user fees, fines and permit fees.