Zoocasa, a full-service brokerage has released an analysis of the property tax rate in 25 Alberta cities and towns.
According to the report, homeowners in the town of Canmore pay the lowest property tax while Wetaskiwin homeowners pay the highest rate.
Wetaskiwin’s property tax rate is 1.2847% while Canmore’s is only 0.504508%.
Zoocasa says for a house valued at $500,000, this means that a Wetaskiwin homeowner pays $3,900.96 more in property taxes than a Canmore owner.
2022 Property Tax Rates in Alberta
While the assessed value of the property depends on its location, property size, condition, renovations or structural alterations, and whether or not it has a basement or pool, property taxes in Alberta are calculated on the assessed value based on the provincial tax rate and budgets of a city or town.
Calgary property taxes are the second lowest in the province at 0.71498%. This translates into $3574.90 in tax for $500,000 residence and $7149.80 for $1 million residence.
Alberta’s capital city has a property tax rate of 0.938670%. Hence Edmonton homeowners pay $4693.35 in property taxes for $500,000 property and $9386.70 for 1,000,000 property.
Credit: Zoocasa
You should remember that you will get a much bigger house in Edmonton than in Calgary for $500,000.
The cities with the highest property tax rates in Alberta:
- Wetaskiwin: 1.2847 ($6423.50 for $500K home)
- Grande Prairie: 1.25747 ( $6287.35 for $500K home)
- Cold Lake: 1.13849 ($5692.45 for $500K home)
- Brooks: 1.133452 ($5667.26 for $500K home)
- Lacombe: 1.11092 ($5554.60for $500K home)
The cities with the lowest property tax rates in Alberta:
- Canmore: 0.504508% ($2522.54 for $500K home)
- Calgary: 0.71498% ($3574.90; for $500K home)
- Airdrie: 0.71927% ($3596.35 for $500K home)
- Chestermere: 0.719457% ($3597.29 for $500K home)
- Cochrane: 0.74947% ($3747.35 for $500K home)