Tax & Assessment
Taxation is responsible for:
- Preparing and mailing the annual tax and assessment notices.
- Administration of the Tax Installment Payment Plan (TIPP).
- Responding to tax inquiries.
Property taxation is the process of calculating a tax by multiplying the assessment by a tax rate. Tax rates are calculated based on the amount of tax revenue that is required to pay for the services that are provided.
Here is the formula to calculate your taxes: Property Assessment x Mill Rate* / 1000 = Annual Property Taxes
If your property assessment is $280,000, and the Mill Rate is 8.695, your taxes would be: $280,000 x 8.695 / 1000 = $2,434.60 per year
*The mill rate is the amount of tax payable per dollar of the assessed value of a property. The mill rate is based on "mills"; as each mill is 1/1,000 of a currency unit, one mill is equivalent to 1/10 of a cent ($0.001).
To estimate your upcoming property taxes, the City of Leduc now has an online Tax Calculator.