A presentation by administration in council Jan. 26 revealed that residential properties in Cochrane increased by an average of 5.27 per cent over the last year.
According to the town, some Calgary communities saw values rise 10 per cent or greater; the national average is 5.9 per cent.
Assessment notices will be mailed out at the end of this month; while these are used to calculate property taxes by applying the council-approved tax rate, according to administration, ‘changes in assessed value does not automatically mean changes in property taxes’.
The value of single-family dwellings increased 6.32 per cent; duplexes/row houses 7.41 per cent; and condos 1.98 per cent.
Cochrane saw a growth of 8.18 per cent in 2014 from the previous year in parcel growth; as of Dec. 31, 2014, the town had 11,640 parcels, up from 10,760 at the end of 2013.
The overall jump was less than the year before, which saw an increase of 9.56 per cent from 2012-2013. Cochrane’s residential/non-residential split is 88.5 per cent/11.5 per cent —behind communities such as Airdrie (16 per cent non-residential) and Okotoks (14 per cent non-residential). Town-contracted Urban Systems indicated that these differences are impacted by factors including the different urban structure of other communities and migration to Okotoks from High River businesses impacted by the June 2013 flood.
Following speaking with assessors, property owners who wish to appeal their property assessment can file an official complaint by March 30, 2015.
Council approved a third and final reading to Bylaw 03/2015, ‘Supplementary Assessment’, approving $230,000 to be collected from supplementary tax revenue — in line with the 2015 town budget.
To learn more, visit cochrane.ca/assessment.
Council gave final reading to Bylaw 12/2014, ‘Amendments to Land Use Bylaw 01/2004’.
The bylaw clarified some of the language and terminology in the Land Use Bylaw; it provides a definition for 56 land uses and other key terms with the original bylaw that were identified as vague. It also included definitions for two terms that were in need of clarity.
Council gave first reading to Bylaw 08/2015, ‘Off-Site Levy’. A public hearing was set for Feb. 9 at 6 p.m. in council chambers.
The proposed bylaw is an update to the Off-Site Bylaw approved in 2012 and includes inflation cost increases related to the projects, as well as modifications to the transportation projects to reflect revised project scope and costs.
The update does not address project timeframes, development windows or benefit allocations. This year the town will do ‘significant work’ to address outstanding questions regarding future infrastructure needs and costs, including highway upgrade needs with Alberta Transportation, finalizing the Connect Cochrane plan and developing a long-term wastewater disposal strategy.
The update proposes an increase in levies from $26,730/Ha to $30,247/Ha (estimated 25-27 per cent higher than the current off-site levies).
