by MorinvilleNews.com Staff
Following the approval of the 2024 budget last December, property owners can expect to receive their property assessment notices early this week ahead of Council considering the 2024 Tax Bylaw in March and April.
On Friday, the Town of Morinville indicated property notices were mailed on Thursday, Feb. 29 and should be in mailboxes a few days later. The property assessment is not a tax bill, rather it is an integral part of the property tax process, determining the amount of tax each Morinville property owner will pay.
The Town is asking property owners to review their assessment notices, confirming the accuracy by reviewing the details on the assessment notice, including what makes up the property’s assessed value and comparing to similar properties in the neighbourhood
“Individual property tax levies, the amount each property owner is required to pay in property taxes, are determined by multiplying the rate set by Council in support of Morinville’s annual budget and the assessed value of your property. It’s therefore important for residents and business owners to know and understand assessed values given the connection to property taxes, and to work with our assessor if there are any concerns,” said Morinville Financial Services Manager Travis Nosko in a media release on Friday afternoon. “Issuing assessment notices well in advance of property tax notices affords Administration time to work with the assessor to address any resident concerns before tax notices are distributed.”
The Town says the assessed value in the mailed notices is based on typical market conditions as of July 1 and the conditions of the property as of December 31 of the previous year.
Once the Tax Bylaw is passed, Tax Notices will follow at the end of May. Tax payments are by June 30, 2024.
