Red Deer Property Tax Calculator 2023
The City of Red Deer is located along the Red Deer River and is home to over 100K residents. The population of Red Deer increased by 0.4% from 2016 to 2021. Red Deer's real estate market consists of a wide range of property types, including single-family detached houses, mansions, bungalows, apartments and condos. As of August 2023, the average price of a home in Red Deer is $350K, and the average home has 3 bedrooms and 2 bathrooms. Despite the rising mortgage rates in Red Deer, the average home price in Red Deer increased by 3.5% from August 2022 to August 2023. Red Deer’s property tax rates are the 16th lowest among Alberta’s urban municipalities, with a population of over 10K.
Red Deer property tax is based on the assessed value of your home. Every year, Red Deer assess properties based on guidelines set by the Alberta Assessment and Property Tax Policy Unit and the Ministry of Municipal Affairs
You can calculate your property tax using either your home's assessed value or your home's most recent market price. Just enter the price and type of your property, and we will give you an instant property tax estimate.
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2023 Tax rates for Cities Near Red Deer
| City | Final Tax Rate |
|---|---|
| Lacombe | 1.144610 % |
| Camrose | 1.110840 % |
| Airdrie | 0.669777 % |
| Leduc | 0.995470 % |
Red Deer Property Taxes
Property tax is a tax based on the assessed value of a property. If you own a property or parcel of land, you will have to pay property tax. It is used to pay for city services such as police, the fire department, and public transit as well as elementary and secondary education.
There are two main parts to a property tax:
- A municipal tax that depends on the municipality of the property
- An education tax that may change from municipality to municipality
Some cities may add additional taxes.
Property tax rates also depend on the type of property. Common major categories are Residential, Multi-Residential, Commercial, Industrial and Farmland. Almost all homes will apply under Residential property tax rates.
| Residential Property Tax Rate for Red Deer from 2018 to 2023 | |||
|---|---|---|---|
| Year | Municipal Rate | Educational Rate | Final Tax Rate |
| 2023 | 0.728770% | 0.249130% | 0.981940% |
| 2022 | 0.721870% | 0.264750% | 0.991880% |
| 2021 | 0.727710% | 0.264110% | 0.996330% |
| 2020 | 0.719790% | 0.255870% | 0.980810% |
| 2019 | 0.694760% | 0.270980% | 0.969470% |
| 2018 | 0.662640% | 0.262690% | 0.928540% |
Red Deer Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Red Deer's property tax department through the following methods:
| Phone number | 403-342-8111 |
|---|---|
| feedback@reddeer.ca |
Red Deer Property Tax Department Information
For any questions or inquiries about your property tax rate or property tax bill, you can reach out to the city of Red Deer's property tax department through the following methods:
| Phone number |
|---|
| 403-342-8111 |
| feedback@reddeer.ca |
| Red Deer at a Glance | |
|---|---|
| Province | Alberta |
| Settled Year | 1882 |
| Established Year | 1894 |
| Incorporated Year | 1913 |
| Population | 100,844 |
| City Area | 104.73 km 2 (40.44 sq mi) |
| Official Website | Red Deer Official Website |
Property Taxes in Alberta for a $500K Alberta Assessed Value Home*
Assessed Value of a Property
Properties in Alberta are assessed every year by municipalities according to guidelines by the Ministry of Municipal Affairs and the Alberta Assessment and Property Tax Policy Unit. This is different from BC and Ontario where property assessments are conducted by a provincial entity. Most properties are assessed using a market value-based approach. There are three ways that municipalities can use to determine a property’s market value:
1.Sales Comparison Approach
Most properties are valued under this approach. This compares the sales of similar properties in the assessment year to determine a valuation for the property. The assessed value may not equal the actual market value or sale value of a property.
2.Cost Approach
New properties are valued under this approach. This uses the cost of the property if someone were to rebuild it to determine a valuation for the property. This includes the price of the land and the price of all improvements (e.g. buildings) on top of it. While this takes into account the market value of the land, it does not consider the market value of the property as a whole.
3.Income Approach
For properties that are dedicated to generating income like rental properties or offices, an income-based approach is used. In these cases, it may not be possible to find recent sales of comparable properties. This approach uses the income generated by the property to determine its assessed value.