Property assessments in Cochrane went up an average of six per cent for the 2016 assessment year, with some areas in town going up a lot more.
The average increase for single-family residential homes is eight per cent in areas such as Sunset Ridge, West Valley, GlenEagles and Riverview – while four other residential assessment areas are seeing an increase of more than eight per cent.
If you live in Heritage Hills, Glenbow, East End or Jumping Pond Ridge, chances are you will notice a difference in property taxes, explained town manager of assessment and taxation Gail Butz.
While a hike in property assessments does not necessarily mean an automatic increase in residential property taxes, the two are related. If the property assessment is below or on par with the town average property assessment, there should be little to no difference in property taxes, although those with property assessments that are above the average will likely notice a difference in property taxes, explained Paige Milner, town’s senior manager of corporate services.
And while concerned residents are speculating that the hike in property taxes is for extra funding for the town or staff, Milner notes that the maximum property tax increase for the 2016 budget was already approved last December to .56 per cent.
During the December council meeting, as previously reported by the Eagle, Coun. Morgan Nagel pushed to bring the property tax increase to zero per cent but lost the vote after a heavy discussion with the rest of council when Toews compared the minimal increase to that of Calgary’s average three per cent increase.
Communications advisor of the town, Laurie Drukier, said the town is encouraging anyone with questions or concerns to contact the town.
“We are totally open and available and willing to discuss details,” Drukier said.
Assessment notices were mailed on Jan. 21 with a 60-day review period, ending on Mar. 21, also the final day to file a complaint – but Milner is encouraging people to get their questions answered before the next step.
Filing a complaint costs anywhere from $50-$250.
Factors that determine the value of a home include style of house, square footage, lot size, basement finish, walkout, year of construction, overall quality and location.
For more information on assessment inquiries contact the town at 403-851-2950 or go to cochrane.ca/assessment
