Taxation

Property taxes support services and amenities that advance Cochrane's quality of life.

Where do your taxes go?

Your property tax contributes to municipal services, provincial education, and seniors' affordable housing. The municipal portion of your property taxes funds a variety of services that Cochrane residents rely on, including:

  • parks, playgrounds and pathways
  • protective services such as police and fire protection
  • year-round roadway maintenance, including street sweeping and snow clearing
  • and much, much more!

Alberta Land Titles Delays

 

Due to processing delays at the Province of Alberta Land Titles Office, if your property was purchased in 2022, ownership and mailing address changes may not be reflected on the property tax bills mailed in May. Property Owners that have not received your property tax bill, please email taxes@cochrane.ca.

If you moved, purchased or built a home, connect with the Town of Cochrane to pay your property taxes before September 30 to avoid a penalty on October 1, 2022. 

Non- receipt of the Cochrane property tax bill does not exempt homeowners from late payment penalties.

UPDATE: PROPERTY TAX PENALTIES 

Due to processing delays at Alberta Land Titles, some homeowners may not have received their property tax bill before the June 30 payment deadline. The Govt of AB recently announced that homeowners who recently purchased a property, did not receive a tax notice, and paid a late payment penalty, may be eligible for reimbursement from the Govt of AB.

Find out more: Property tax late penalty reimbursement | Alberta.ca

Thank you to The City of Red Deer for providing use of this video for Cochrane.

Property tax bills will be mailed May 30 and due June 30.  

Break up your bill with Cochrane's TIPP (Tax Installment monthly Payment Plan) or learn more about  available payment methods.

Please note: If you own a condominium, you may receive a separate tax bill for your parking stall(s) or storage unit(s).

2022 Property Assessment and Tax Allocation

The average residential property saw an increase in assessed value – from $455,900 to $495,700 – and will experience a $224/year or $18/month increase in municipal taxes. As assessment values vary between individual properties and between communities, most property owners will have tax changes that are either higher or lower than the average. This reflects a 6.75% tax increase. Artboard 2

Of the residential property taxes collected, 66.9% supports municipal funding, 32.5% supports Provincial education (Alberta Education Fund), and 0.6% supports the Rocky View Foundation (to support Big Hill Seniors Lodge in Cochrane. 

Thank you to The City of Red Deer for providing use of this video for Cochrane.

Average Single Family Dwelling Taxes 2022 2021      $ in/decrease % in/decrease
Assessment $495,700 $455,900 $39,800 8.73%
Municipal Tax Levy $2,487 $2,263 $223 9.85%
Education + Rocky View Foundation requisitions $1,228 $1,217 $11
 0.90%
Total property tax bill $3,715 $3,480 $235 6.75%
Artboard 6 copy 3

Property Assessment and Taxes

The tax year runs from January to December. 

The property taxes each resident pays is calculated in proportion to the value of the real estate property they own. Determining the value of a property for taxation purposes is known as assessment. Assessed values are a means of fairly distributing the town tax burden and ensuring that each property owner pays a fair and equitable level of tax. Find out how your property assessment is determined.

As assessment values vary between individual properties and between communities, your municipal tax changes may be higher or lower than the average. 

Supplementary Assessment 

If you recently bought a new home, you may receive a supplementary assessment/tax bill in November.

Supplementary tax bills will be mailed October 20, 2023. Final complaint date is December 29, 2023 and due date is December 31, 2023. You can check details of your account anytime at cochrane.ca/eServices.