Your property assessment helps determine your share of municipal, education and seniors’ housing taxes. Assessments reflect the estimated market value of your property and ensure fairness in tax distribution across Cochrane.
How property assessments work
- the market value of your property as of July 1 of the previous year
- the physical condition of your property as of Dec. 31 of the previous year
Assessments are delivered before your property tax bill, allowing 60 days for you to review your property details and report any concerns to the Assessment department before property taxes are calculated.
- Changes in your property’s assessed value relative to the overall assessment base — If your assessment increases more than the average in Cochrane, you may see a larger tax increase. If it increases less than the average, your tax increase may be lower.
- Adjustments to the municipal budget and tax rate — The amount of property taxes the Town must collect is determined annually based on municipal funding needs and provincial education tax requirements.
Alberta property assessment compared to other provinces
Welcome to Cochrane! If you’ve recently moved from another province, you may notice that Alberta’s property assessment system works a little differently.
Here’s a quick guide to help you understand how assessments are conducted within the Province:
Residential property inspections
Cochrane follows a five-year re-inspection cycle to ensure accurate property data.
Residential property verification forms are sent to property owners from July to September based on this rotating cycle. If you receive a form, review your details and submit updates using the Residential Property Verification form.