Town of Banff

Property Taxes

Property taxation is the process of calculating a tax by multiplying a property assessment by a tax rate.  Tax rates are calculated based on the amount of tax revenue required to pay for the services provided by the municipality.

The Town's 2010 budget requires $12.8M in municipal taxes, supported by 1940 residential and 209 commercial ratepayers

2010 Taxes

Council approved the 2010 tax rate with a 4.5 to 1 tax rate split for commercial and residential property.  The overall tax increase is 2.55 per cent as set in the 2010 budget. Due to significant decrease in commercial assessment values in 2010, the commercial tax increase will be 0.7 per cent with a residential increase of 7.1 per cent.

Tax Split

The tax split refers to the difference between the rate charged to residential premises and the rate charged to commercial premises.

Council votes on the tax split every year.  This year, the commercial rate was set at 4.5 times higher than the residential rate.  This is in keeping with the split approved by the majority of residents at the time of the town’s incorporation. 

Calculating your Taxes

The 2010 tax rate for residential properties is 5.091.  The tax rate for commercial properties is 17.420.

Use this equation to determine your 2010 tax rate:

Assessment value of your property ÷ 1000   x   Tax Rate  =  Your tax bill


Tax bills will be mailed on May 28, 2010 and are due June 30, 2010.  For more information call 403.762.1230 or email taxes.utilities@banff.ca.

Assessment and taxation are regulated by the provincial government. If you would like to learn more, you can pick up "A Guide to Property Assessment and Taxation in Alberta" at Banff Town Hall (110 Bear Street). Call 403.762.1230 for more information about the Guide.