As homeowners, one of the responsibilities that we have is to pay our property taxes on time. It’s an annual expense that we can’t ignore, and it’s essential that we understand what we’re paying for and when it’s due. In this blog post, we’ll explore essential information about City of Calgary property taxes due. We’ll talk about what property taxes are, where your tax money goes, how much you need to pay, and when the deadline is. By the end of this post, we hope that you’ll have a better understanding of your property taxes and feel confident about paying them on time.
What are Property Taxes?
To understand what property taxes are, we need to determine the value of our property, which is assessed by the City of Calgary. The assessed value of your property determines how much you will pay in property taxes each year. Property taxes are used to fund the services provided by the city, such as waste and recycling collection, police services, fire services, and more. The amount that you pay in property taxes each year is based on the assessed value of your property and the tax rate in your area.
Where does your Tax Money Go?
When you pay your property taxes, it goes towards funding various programs and services provided by the city. These funds are used to enhance the beauty of Calgary city, maintain Calgary’s streets, keep neighborhoods clean and safe and promote economic development in the city. Additionally, your tax money goes towards funding essential services such as police, fire, and emergency services.
How much do you need to pay in Property Taxes?
The amount that you pay in property taxes each year is calculated by multiplying your assessed property value by the tax rate in your area. To find out how much you owe, you can use the tax calculator available on the City of Calgary’s website. It’s important to note that property taxes are due annually, and you can choose to pay in one lump sum or through installments.
When is the Property Tax Due Date?
The property tax due date is at the end of June each year. However, the Province of Alberta Land Titles Office (LTO) is experiencing delays in processing ownership and mailing address changes. As a result of this, some new owners will not receive their 2023 annual property tax bills.
Non-receipt of the property tax bill does not exempt owners from late penalty fees.
Property owners who have not received their property tax bill by the end of May must call 311 (or 403-268-2489 if outside of Calgary) to obtain an up-to-date statement of account.
If you have joined the Tax Instalment Payment Plan (TIPPS), then you can avoid delays and potential penalties by making smaller monthly payments instead of one large sum.
If you have not joined TIPPS, please ensure you pay the balance in full by June 30, 2023 to avoid penalties.
What happens if you don’t pay your Property Taxes?
If you don’t pay your property taxes, the City of Calgary will charge you a penalty and interest on the outstanding balance. Furthermore, if you’re unable to pay your taxes by the deadline, you can enroll in one of two city programs – the Tax Instalment Payment Plan (TIPP) or the Property Tax Assistance Program (PTAP).
Paying your property taxes on time is an essential responsibility of homeowners. It is essential to understand your property taxes, where your money is going, and how much you need to pay so you can meet your obligation. Property owners in Calgary have an additional three months to pay their taxes, allowing them to plan with their budget. Remember, if you’re unable to pay your taxes on time, you can enroll in the TIPP or PTAP payment plans to avoid penalties and interest charges. With these tips, paying your property taxes on time will be an easy feat.