For the purpose of Assessment and Taxation, properties are classified as one or more of the following: Residential, Non-Residential, Farmland, or Machinery and Equipment based on their use as required by the MGA.
The Residential Class may be divided into as many subclasses as the municipality feels appropriate (i.e. Vacant, Multi-family, Condominium, etc). The Non-Residential class may be divided into 3 subclasses, as allowed by the MGA and the Matters Relating to Assessment Subclasses Regulation
The MD of Taber passed a Small Business Assessment Subclass Bylaw No. 1952 effective July 9, 2019. The Non-Residential Class in the MD of Taber is divided into the following subclasses:
- vacant non-residential property
- small business property
- other non-residential property
Tax rates must be set for each assessment class or subclass and may differ between classes or subclasses, with the exception of Machinery and Equipment which must have the same rate as Non-Residential.