Edmonton Real Estate Taxes, A Quick Look
Friday, October 24th, 2014
“Death, taxes and childbirth! There’s never any convenient time for any of them.” -Margaret Mitchell, Gone with the Wind
True enough, majority of the people all over the world dread paying taxes, but we can’t do anything about it since it helps our society move forward. With that in mind, let us take a look at the taxes related to Edmonton’s real estate without messing with the figures.
Property taxes in Edmonton are pro-rated so the buyer and the seller only pays a specific amount of tax based from their ownership of the house. Home buyers’ tax liability period starts from the move-in date.
Edmonton.ca provides a comprehensive report on the basics of Property Assessment, Tax Facts, Property Verification and Tax Assistant, which is quite a helpful resource. Just to skim through Property Assessment, it is important to remember that city mails out property assessment notices in early January to all homeowners within the City of Edmonton. This process gives you the opportunity to (1) review your property’s assessed value, (2) obtain more information if you have questions or concerns about your updated market value assessment and (3) plan ahead for your property tax payment.
According to the site, in order to ensure that all homeowners have a fair and correct property assessment, the city employs a dedicated team of assessors. Read more about property assessment here.
The Edmonton Journal on the other hand recently published the 2014 property tax assessment changes with a fully interactive map showing the major changes by neighborhood.
