Lower property tax assessments don’t mean lower tax bill

When our annual tax assessment arrives in the mail this week, an estimated 70 percent of us will see a lower number than last year.
However, while property values took a dive in 2009, 92 percent of Calgarians will find their tax bill to be plus or minus 10 percent of last year’s.
The average calgary home dropped in value by 13 percent but with a tax rate increase this year of nearly five per cent, your property would have to be down by 18 percent to keep pace with last year.
Alderman Ric McIver tells 660News we should all be thinking about the averages.
“If your property went down by more than 13 per cent, your increase will be less than council’s increase,” he says.  “And if your property value increased or went down by less than 13 percent then of course your tax bill will change by an amount greater than council’s approved increase.”
And then there’s the provincial portion of your tax bill which is still to be factored in.  That  rate is announced in May — one month before tax bills go out in the mail.
If you aren’t happy with your assessment, Scott Hennig with the Canadian Taxpayers Federation advises, do your homework and check your numbers before you file an appeal.    He tells 660News it’s a good idea to compare your home’s value with your neighbours’.