Cochrane residents encouraged to review their assessment with new online tools

2025 Property Assessment Notices. text on a yellow background.

(Cochrane, AB) - Property owners in Cochrane can expect to receive their 2025 property assessment notices in the mail within the next week. These assessments provide important information about the value of properties and their role in determining property taxes.

This year, the average residential single-family property assessment has increased by 10.59%, reflecting the vibrant housing market and high demand to live in Cochrane. Non-residential assessments saw increases of 4% and 10% for commercial and industrial properties, respectively. The average residential single-family property is now assessed at $680,700, up from $615,500 in 2024.

Understanding property assessments

2025 Property assessments are based on market conditions as of July 1, 2024, and the physical condition of properties as of December 31, 2024. This ensures a consistent and equitable process for determining the market value of properties.

“Property assessments are an essential part of ensuring fairness and equity in how taxes are distributed among Cochrane’s property owners,” says Alvin Allim, CFO & Director, Financial & Assessment Services, Town of Cochrane. “As our community continues to grow, these assessments reflect the increasing demand for housing and the value of living in Cochrane. We’re here to answer any questions residents may have and to support a smooth process for everyone involved.” 

Key facts about assessments and taxes

Assessments are prepared annually using mass appraisal techniques, which group similar properties to establish typical market values. Assessments reflect market trends but not individual sale prices. Changes in assessed value redistribute tax responsibility based on how a property’s value changes relative to others in its class.

Property taxes will be influenced by several factors, including municipal budget requirements and provincial requisitions for education and seniors’ housing.

“Property assessments determine each property's share of the tax base, but the amount residents pay depends on Council’s budget, the overall assessment base for the Town, and the Province’s education property tax requisition” added Allim. “Approximately 30% of property taxes are allocated to support Alberta’s education system for all public and separate school students.”

A new property tax estimator is now available on cochrane.ca to help demonstrate the approximate taxes property owners could expect with their 2025 assessment, the portion distributed to Provincial services and the distribution to municipal services based on the 2024 tax rate.

60-day review period

Assessment notices will be mailed on January 23, 2025, followed by a 60-day review period from January 31 to April 1. During this time, property owners are encouraged to review their assessment details carefully. 

Cochrane.ca/assessment provides tools to compare your property’s assessment with past values and similar properties in your neighborhood. If you have questions or concerns, contact the Assessment department at assessment@cochrane.ca. Should further review be needed after discussions with the assessment department, a formal complaint can be filed before the April 1 deadline.

Tax Installment Payment Plan (TIPP)

Cochrane offers a Tax Installment Payment Plan (TIPP) to simplify property tax payments. This plan allows residents to pay in manageable monthly installments instead of a single full payment in June. Information and registration for TIPP are available at cochrane.ca/TIPP.

Important dates to remember

DateEvent
July 1, 2024Valuation date for 2025 assessment based on market conditions
December 31, 2024Valuation date for property physical condition
January 23, 2025Assessment notices mailed
January 31 –April 1, 202560-day assessment review period
April 1, 2025Final date to file an assessment complaint
March/April 2025Provincial budget released, requisitions determined, Council approves Property Tax Bylaw
May 2025Property taxes mailed
June 30, 2025Property taxes due

Property owners can access Cochrane’s user-friendly tools at cochrane.ca/assessment and contact an Assessor to get more information on their 2025 property assessment.