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1. Why does my assessment say “improved”?

If you are comparing last year’s assessment to this year’s, you’ll notice there is a change in the terminology: a single family home is now described as “Res Single Family Improved.” This simply means your property has an improvement on it — your house. It does not indicate an improvement to your home from last year; it’s a way to differentiate between properties with buildings and those without buildings. Please note: this change in terminology does not affect your assessment value.

2. Why do I receive my assessment notice before my property tax bill?

Assessment notices are mailed in advance of the property tax bill to allow property owners the opportunity to review the assessed value and ensure it is reasonable prior to the tax bill being sent out in May.

3. How is Market Value Determined?

The real estate market sets the value of your property. Our Assessors measure that market utilizing mass appraisal techniques, which determine property values by grouping similar properties as of a specific date. Market value assessments may vary depending on geographic location, building style and size of property. All assessments are prepared in accordance with the Municipal Government Act and the requirements of the Matters Relating to Assessment and Taxation Regulation.

4. Is GST included in the assessment of my home?

Yes, GST is a cost incurred by a purchaser as part of the value paid. This amount should be reported to the Land Titles office. GST is typically recovered in the resale of the home, so no adjustments are made to the market value.

5. Why has my assessment increased when market value has decreased?

There are a number of factors that go into determining your assessed value. A variety of changes including extensive renovations, basement development, garages additions, fireplaces, and decks can alter the assessed value of a property.

The assessed value is determined through an analysis of properties that have sold in the previous year. Different neighbourhoods or dwelling types may appreciate of depreciate in value at different rates from year to year.

The average market value of single family homes may have decreased overall, but the difference between each neighbourhood may not match the overall year to year change.

6. How do I know my value is reasonable?

We use a comparison of property characteristics to similar sale properties within your community. It is important to remember that the assessed value date is of July 1 of the previous year.

7. How do renovations or additions affect my assessment?

Your assessment is based on its physical condition as of December 31 of the year previous to the current taxation year. Any significant changes to your home will likely increase its market value and therefore, increase your assessment.

8. Why do I pay school taxes when I don't have children going to school?

Provincial legislation specifies that the funds for schools are to be collected by municipalities. The province and separate school boards requisition revenue they require from the Town and the total levy is distributed among taxpayers through their property tax bills. People who do not own property contribute indirectly through their rental or lease payments.

9. How and where can I pay my taxes?

You can pay your property tax bill at the Town office with cash, money order, personal cheque, bank draft or debit card (include the remittance portion of the notice), or through your bank’s telephone or internet banking. Credit cards are not accepted.

• In person during office hours (Mon - Fri, 8:30 am - 4:30 pm)

Cochrane RancheHouse
101 RancheHouse Road


• In person after office hours

Drop your money order, cheque, bank draft in the drop box at Town office or FCSS; remember to include the remittance portion of your notice. Do not drop off cash.




• Cochrane RancheHouse

101 RancheHouse Rd


• FCSS

209 Second Ave W



• Mail (include your payment and the remittance portion of your notice)

Town of Cochrane
101 RancheHouse Road
Cochrane AB T4C 2K8

• 
  At your bank or credit union

Set up the Town as a bill payee through your regular bill payment system; your roll number is your account number. Allow three business days before the penalty date to ensure payments are processed on time. Please retain all documentation.



• TIPP

Tax Installment Payment Plan (TIPP) allows you to pay your property taxes in equal monthly installments instead of a single annual payment. Call 403-851-2288 or 403-851-2522 before June 15 to register to avoid a 7% penalty on July 1.

Check our taxation page if you have any further questions.