I've never heard of this. Great idea!

We have a cap on the assessments for municipal taxes, they cant go up more than 4.5% a year unless there is a sale which allows an increase to the sale price. The assessment goes up and down with real estate sale prices.

Since we are taxed municipally based on real estate value/assessment, it is a weird system as I see it, that assessment has no direct connection to cost of running a municipality. A new construction sees the new owner or developer pay all the direct cost for roads, water, sewer, etc. but the municipality now gets new revenue from tax without spending much in direct cost. Yes, they supply road clearing and maintenance, garbage, and say enforcement of bylaws and building standards, but we have a separate tax for fire protection and schools and hospitals are paid for by the province.

When real estate assessments are going up, its up to municipalities to cut back on the tax rate to match what they collect to what they spend. They are much better at spending.

Our municipality has a budget of about $33 million, they projected being debt free by October 31/22. They brag about not increasing the tax rate for 20 years, no mention of how much assessments have gone up at the same time. 5 years ago they had a budget of $25 million, last year they built a new municipal office cost likely over $10 million, paid cash. Proves good fiscal management or are our taxes too high?

Ever seen municipal taxes drop?

Alberta Seniors Property Tax Deferral Program

https://www.alberta.ca/seniors-property-tax-deferral-program.aspx#:~:text=Tax%20Deferral%20Program.-,Overview,with%20the%20Government%20of%20Alberta.

"The Seniors Property Tax Deferral Program allows eligible senior homeowners to voluntarily

defer all or part of their residential property taxes, including the education tax portion.

This is done through a low-interest home equity loan with the Government of Alberta."

The only deferment we ever got was when we lived in Ontario and moved my wife's parent's in with us. We converted the attached 2 car garage to a granny flat. They agreed to defer the taxes until they were no longer with us. I don't even think it was a month after the last parent passed away and they were at our door to do the reassessment.