Fort Mac residents pay lowest property taxes: study

EDMONTON Fort McMurray homeowners are paying some of the lowest property tax rates in the province while those owning real estate in St. Albert are paying some of the highest, a new comparison shows.

Data released by online real estate listing company Zoocasa Tuesday shows that Fort McMurray ’s property tax rate of 0.47454 per cent means those owning homes with an assessed value of $250,000 will pay $1,186 per year and $2,373 on a home assessed at $500,000.

St. Albert’s property tax rate of 1.05199 per cent means those owning homes with an assessed value of $250,000 will pay $2,630 annually and $5,260 on a home assessed at $500,000.

Edmonton is ranked 14th on the list of 24 cities with its 0.86869 per cent rate translating into $2,172 and $4,343 for homes valued at $250,000 and $500,000 respectively.

Calgary is ranked fourth with its 0.63573 per cent rate costing homeowners $1,589 and $3,179 annually.

Fort McMurray is ranked No. 1 on the comparison list while St. Albert is ranked 23rd.

Property tax rates were sourced from each municipality’s website, the company said, and the August 2018 average home prices were sourced from each region’s real estate board.

Grande Prairie is ranked last in the comparison with its 1.48000 per cent rate, three times as high as Fort McMurray, but comes with the caveat that the data used dates back to 2016.

At that rate, homeowners in Grande Prairie are paying $3,700 on a home with assessed value of $250,000 and a whopping $7,400 on a home assessed at $500,000.

Below is the full property tax rate ranking list (from lowest to highest tax rate): Fort McMurray Canmore Camrose

Calgary

Airdrie Cochrane

Cold Lake Okotoks

Fort Saskatchewan Chestermere Strathmore Spruce Grove Stony Plain Edmonton Leduc*

Sylvan Lake

High River Beaumont Medicine Hat

Red Deer Lloydminster

St. Albert Lethbridge Grande Prairie*

* Data used for Leduc and Grande Prairie is from 2016. Postmedia News