Municipalities use property assessments as the basis for calculating property taxes. Each year, the City sets a tax rate based on the revenue needed to pay for municipal services like:
Police and fire protection
Road maintenance, repairs and snow removal
Waste collection
Parks, pools, libraries and community centres
Public transit
The municipal tax rate is applied to individual property values to calculate property taxes. Property taxes are the primary source of revenue used to pay for municipal public services.
Other factors also determine the property tax rate including tax policy decisions, budget increases and education levy changes as determined by the Provincial government.