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2 a- W" [( }' _1 X$ G( ~: ^LZ is right. Please read carefully.
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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.
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) |- q: W6 W8 o% W- UAnnual property taxes for a typical house valued at $397,000 will total $3,378, up $108 from the year before.
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Of 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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The 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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( ^ Y* v. P/ r+ c7 OThe 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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" a7 X/ h4 g& u& \The value of a typical single-family detached home dropped by 2.7 per cent, from $408,000 to $397,000.1 `' U- \* M( [ b
- u/ D. {! N$ f. |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.) Z/ u- Z; a7 w |8 K
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Tax notices will be mailed to all property owners on May 23. The deadline to pay is June 30. |
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