Assessment
What is a Property Assessment?
Property assessment is regulated by the provincial government , and is the process of placing a dollar value on the property for taxation purposes. Residential and most commercial property in Alberta is assessed using the market value approach.
Market value is defined as the price a property might reasonably sell for after adequate time in an open market from a seller to a buyer.
Assessors calculate your assessment by looking at the property characteristics including size, type, location, style, condition, age of your property and lot size. Selling prices of similar properties in the same neighborhood (or similar area) are also considered.
Your property assessment is affected by market changes caused by supply, demand, and inflation. Your assessment will also be influenced by improvements or modifications made to your property.
You can view property assessments on our website by choosing “online services” and then “property search”.
How often are properties assessed?
Municipal properties are re-assessed annually. City assessors will review properties throughout the year; however, market value assessments are based on market value as of July 1 of the previous taxation year.
Role of the Assessor
An assessor is a specialist who measures the value on all types of property. The property value calculated by the assessor is used as the basis for determining the amount to be paid or assessed for taxation purposes. Assessors must consistently work to ensure that property taxes are equitably allocated among all property owners based on the value of their property.
For more information please visit the Alberta Assessors' Association or call 780.980.7169.