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Economic

From providing tools that support economic vitality to developing cost savings programs, your bottom line is important to us. 

​Scroll through the categories below to learn more about our Economic-related Programs & Initiatives. 

 

 

 

Equalized Assessment

Equalized assessment is a process to audit and adjust the assessment data that each municipality reports to the province in order to reach a level of fairness in taxable assessment amongst municipalities. The province uses equalized assessments to determine each municipality’s requisition for a regional or provincial program or the allocation of grants to municipalities.

The most common example of a provincial program that is funded by property tax requisitions is the education tax.

Fundamentals of Alberta’s Property Assessment and Taxation System

In comparison to other types of taxation systems, the property taxation system offers a relatively stable source of tax revenue for government. When the economy is growing, any growth in property tax revenue is delayed until new construction brings new homes and commercial and industrial developments into the tax base. Conversely, when the economy declines, the assessment base does not immediately change and, therefore, property tax revenue remains stable.

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