To calculate your taxes, your Assessment is multiplied by the Tax Rate for your class of property in the appropriate region. Example - if you have a residential property and are a public school supporter your calculation would be as follows:
Assessed Value = $400,000
Tax Rate = Municipal Residential + Education + Seniors
Tax Rate = 2.557 + 2.577 + 0.0613 + 0.0448
Tax Rate = 5.2401
Assessment X Tax Rate = Taxes
400,000 x 5.2401/1000 = $2,096.04
A Tax Rate is per thousand dollars of assessment. For example: For each $1,000 of assessed value, taxes would be $5.24.
In this example the General Municipal tax is $1,022.80 or 48.8% of the total tax levy of $2,096.04
Lacombe County is required to collect the Education taxes and Policing taxes on behalf of the Province, but has no jurisdiction in setting these Tax Rates. The provincial government establishes the Education Tax Rate.
Police Levy – New for 2020
New for 2020 is the Province’s decision to charge all municipalities for policing costs. For 2020 Lacombe County is responsible for 10% of the projected costs. This amount will rise by 10% each year topping out at 30% in 2023. This is cost has been applied as a separate levy on all taxable properties in the County and is shown as a separate Police Levy on your 2020 tax notice.