|
Finance and Taxes
The Corporate Services Department provides support services to the corporation of the Town of Taber. As Taber continues to grow, so do its’ assets and resources and the Corporate Services Department ensures that these assets and resources are managed and delivered efficiently. Functions within Corporate Services run the gambit from financial planning and reporting, issuance of utility and tax bills, accounting, human resources services, land use planning, and serving as the front-line for citizen inquiries.
FINANCES
The Town of Taber Annual Report for the year ended December 31, 2009 has been prepared for our website in Adobe PDF format.
The 2009 Annual Report is also available as a printed booklet to any Town of Taber ratepayer free of charge and can be picked up at our Administration offices located at 4900-A 50 Street, Taber, Alberta .
ASSESSMENT AND TAX
“Assessment” is the process of placing a dollar value on a property for taxation purposes – the value used to calculate the amount of taxes that will be charged to the owner of a property.
“Taxation” is the process of applying a tax rate (mill rate) to a property’s assessed value to determine the taxes payable by the owner of that property. This is based on the budgeted funds required to operate and maintain the municipality for that year.
Alberta has adopted the “market value” standard for property assessment. This standard is considered the most fair because all property is assessed on the same basis, and equitable because properties with similar market value in a municipality will pay a similar amount of property tax.
Market value is defined in section 1(n) of the Municipal Government Act as:
“…the amount that a property might be expected to realize if it is sold on the open market by a willing seller and buyer.”
This allows property owners to readily understand their assessments and make comparisons with similar properties.
Assessors must follow the same procedures and legislation. The Town of Taber, as with most smaller municipalities, contracts out its assessment services.
|
|
|
