Property assessment + taxes FAQ

Supplementary assessments account for new construction or improvements that are completed or occupied after the annual assessment has been prepared.

Under Alberta's Municipal Government Act (MGA), property assessments are based on a legislated valuation date. This means assessments reflect the real estate market as of a specific point in time established by legislation, rather than current market conditions at the time a supplementary assessment is issued.

As a result, a supplementary assessment reflects previous year’s market conditions, even though the construction or improvement was completed during the current year.

Using a common valuation date ensures that properties are assessed consistently and equitably.

A supplementary assessment updates the physical condition of the property to recognize new construction or improvements, but applies the same market conditions used for the annual assessment roll.

This ensures that similar properties are valued using the same market evidence and valuation standards, regardless of whether they were included on the annual assessment roll or added through supplementary assessment.

Changes in the real estate market that occur after the legislated valuation date are not reflected immediately in a supplementary assessment. Those changes are considered as part of the next annual assessment cycle.

This is an important distinction:

Supplementary assessment updates what is being assessed, not the market date used to value it.

The Municipal Government Act allows municipalities to prepare supplementary assessments for qualifying improvements completed or occupied during the year.

This allows new construction and improvements to contribute property taxes for the portion of the year in which they qualify for supplementary assessment, while maintaining consistency with properties already included on the annual assessment roll.

In simple terms: a supplementary assessment reflects the property's updated physical condition using the same market conditions that apply to all properties for that assessment year.

Please contact your builder or lawyer to request reimbursement for the days you did not own the property.

Town of Cochrane is required by legislation to bill for the entire month that the home was completed and/or occupied, as per below: 

As per section 314 (4) of the Municipal Government Act (MGA). 

 (4) Supplementary assessments must be prepared in the same manner as assessments are prepared under Division 1 but must be prorated to reflect only the number of months during which the improvement is complete, occupied, located in the municipality or in operation, including the whole of the first month in which the improvement was completed, was occupied, was moved into the municipality, or began to operate. 

School Support Declaration forms submitted during the current year will be reflected on the following year’s Assessment Notice and Tax Bill.

 To update your School Support Declaration you may complete and submit the form online.

No. This bill and along with any other outstanding property tax amounts must be paid in full before you can register for the Tax Installment Payment Plan (TIPP).  Once the balance owing has been paid you can register online for the following tax year.

Payment options are listed on the back of your bill and on our website.

An assessment notice that has "improved" identifies that the land has a building, and it is not vacant.

Improved does not mean a change has occurred, it only reflects that a structure of some type exists on the land.

Assessment notices are mailed early to give you time to review and request corrections within the 60-day review period.

The real estate market sets the market value of your property. Assessors use mass appraisal techniques, considering sales of similar properties, location and property characteristics (geographic location, building style and size of property). All assessments are prepared in accordance with the Municipal Government Act and the requirements of the Matters Relating to Assessment and Taxation Regulation. 

Even in the same area, factors like lot size, home size, renovations and property age can create differences in assessment values.  

We use a comparison of property characteristics to similar sale properties within our community. Assessments are based on comparable property sales as of July 1 of the previous year. 

Use the following tools to compare your assessment to similar properties based on size, age, quality, condition and location:  

• Property Search
• Property Viewer 

Not necessarily. Your assessment reflects your property’s estimated market value. Tax rates, which are set in May, determine your final tax bill.  

Yes. GST is factored into the market value of your home and should be reported to the Land Titles office. Since GST is typically recovered when a home is resold, no adjustments are made to the assessed value.

Your assessment is based on your property’s physical condition as of Dec. 31 of the previous year. Significant renovations or additions can increase your market value and assessment. 

Log in to eServices and check the “Assessment” tab for historical information. 

If you recently sold your home, the Town may not have received the updated ownership details from Land Titles yet. Ownership records are updated twice a month. 

If the title transfer was not processed before assessments were mailed, you may not receive a notice. You can look up your assessment using the Property Search tool. 

Email taxes@cochrane.ca and contact the Calgary Land Titles Office at 403-297-6511 to update your Certificate of Title.

Complete the online form.

You can find your legal land description by doing a Property Search tool on eServices.