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Important update – assessment rates to impact 2020 taxation

Alberta Municipal Affairs has shared that the existing rates for all regulated property will be used once again to calculate the 2019 assessment for 2020 taxation. This also includes the Assessment Year Modifier.

The Minister’s Guidelines, the official documentation confirming assessment rates, have not yet been signed or published; however, the Minister’s office has unofficially shared the message of no rate changes.

While this is overall good news for the oil and gas sector – the revised rates proposed by Municipal Affairs were controversial as they included major increases for most property types – the message brings its own disappointments:

  • Questions on how the assessment and taxation of shallow gas properties will be handled in 2020 tax year are unanswered. Recall the $21 Million tax rebate awarded by the provincial government for this property type for the 2019 tax year
  • Working group committee members from industry and government have spent two years of time and effort to create new assessment models; these efforts result in another tax year of no change

The potential timeline for the continuation of this review process is end of Q1 2020 completion of the review for all properties and end of Q2 2020 finalization.

For more information on the assessment rate review process, please visit the Executive Summary from our November 4, 2019 Property Tax Power Breakfast.

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Shawna Burke-MartinBurke-Martinbu-commercial-property-tax tax-assessment-appealsproperty-tax-management-compliancebrandoncalgary-4th-streetcalgary-7th-avedartmouthedmonton-101-stedmonton-106a-avefort-st-johngrande-prairielloydminsterlondonmariamontrealottawaquebecreginasaskatoonswift-currenttoronto-hqvancouvervirdenweyburnwinnipeg-centurywinnipeg-lombardyorkton

Senior Director, Property Tax

Last updated on December 20th, 2019 at 10:04 am

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