Edmonton homeowners are about to find out how much more or less they’ll be paying in property taxes this year, and why.
More than 300,000 property tax assessments were mailed out by the city this week to help prepare homeowners for what to expect when the actual bills arrive, and to avoid confusion when tearing open tax envelopes in May.
Edmonton properties dropped roughly 10 per cent on average between July 1, 2007, and July 1, 2008.
As a result, more than 50 per cent of homeowners will be seeing a decrease in their property-tax bills this year.
“This is somewhat reactionary,” city taxation branch spokesman Rod Risling said yesterday. “We value based on what’s actually happened in history. We’ve got good information to base our assessments on.”
The value of some homes in the city faced a significant drop this year, which could save homeowners some cash come tax time.
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