Cochrane property owners may still see an increase in their overall tax bills in 2025, despite the Town’s recently announced lower municipal property tax rate.
At the May 12 Council meeting, Cochrane finalized the 2025 municipal property tax rate at 1.51 per cent, a reduction from last year. For comparison, this means a homeowner will pay approximately $385 per $100,000 of assessed home value, which is $34 less than in 2024.
However, individual tax bills will vary, depending on whether a property’s assessed value increased or decreased relative to the average assessment across the Town.
“Municipal property taxes support the cost of municipal services – including community safety, roads and infrastructure maintenance, parks and open spaces, and other essential programs and amenities that aim to enhance the quality of life for all residents,” said Alvin Allim, Cochrane’s CFO and Director of Financial and Assessment Services.
While individual property assessments influence each property’s share of the tax levy, the Town’s total tax revenue remains fixed at $40 million for 2025, as determined by the approved budget.
In addition to changes in property assessments, several annual components also impact the final tax bill:
- Provincial Education Tax: Set by the Government of Alberta to fund public and separate schools.
- Rocky View Foundation Tax: Supports local seniors’ housing.
In 2025, Cochrane’s education property tax contribution will increase by 24 per cent, which translates to roughly $137 per month or 38 per cent of the total tax bill for an average single detached home.
See related article: Cochrane property owners to see rise in education tax
Property tax bills will be mailed to property owners by May 30 and are due on June 30. Residential and non-residential tax rates can be found on cochrane.ca/taxes. To learn more, watch this video about how property tax dollars are allocated.
