Assessment Information for: Residential Property Owners 2011
- What is market value assessment
- Why it's important you confirm it
- How it determines your share of the muncipality's property tax requirement
When will I know how much I am paying in taxes?
You will receive your 2011 annual tax bill after Council determines the final tax rates. Your tax bill represents your share of the muncipality's revenue requirement and your share of the provincial education tax.
When must I pay my taxes?
You will be receiving your 2011 tax bill after Council sets the final tax rates, it is important to note that your 2011 taxes cover the period of January 1, 2011 to December 31, 2011. This means a couple of different payment options are available to you:
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You may take advantage of the municipality's monthly payment plan that spreads the tax payment out over the year.* The monthly payments for the first half of 2011 are based on 2010 taxes. The installments for the balance of the 2011 calendar year are adjusted to reflect the finalized tax bill mailed to you. If you wish to sign up now for the Monthly Tax Payment Plan and pay your 2011 taxes in monthly installments by automatic bank withdrawal, contact your municipality.
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Alternatively, you can wait for your final tax bill to come and choose to pay your property taxes in a lump sum by the date specified on your tax notice.
* Please contact your municipal office to determine if a monthly payment option is available in your community.
What is market value assessment?
Market value is the amount that a property might be expected to realize if sold on the open market by a willing seller to a willing buyer.
The Alberta government requires all Alberta municipalities to update property values annually to reflect the market value on July 1 of the previous year.
This assessment notice gives you the market value assessment of your property.
My assessment has changed from last year. Will my property taxes change?
Your property taxes will decrease only if your property's value dropped more than the average decrease municipal-wide and the drop is low enough to offset any Council budget increase and/or a change in the provincial education tax.
How does the change in my assessment affect my property taxes?
How your property assessment changed from the previous year compared to the average assessment change of all residential properties in the municipality determines the change in the share you'll pay of the municipality's property tax requirement.
How is my property's market value determined?
Your property's assessed value is determined by similar criteria as real estate agents use, such as:
- Location
- Lot size
- Building size
- Age and condition of house
- Selling prices of similar properties in similar areas
Your 2011 assessment is an estimate of your property's real estate value as of July 1st, 2010. If your home was only partially complete on December 31, 2010, your assessment reflects the value of the lot and value of the building based on the percentage completed. In order to maintain equity, similar properties should have similar assessed values.
Access to assessment information
If you have any questions or concerns about your property assessment, please contact the municipal office.
What if I don’t agree with this assessment?
Talk with the municipal office first, who will arrange a meeting with your assessor. If you still feel your assessment does not reflect what your property would sell for on the open market, on July 1, 2010, you may file a complaint with the Assessment Review Board (ARB) at the municipal office.
Complaint process changes
The complaint process was changed in 2010 as a result of amendments to the Municipal Government Act and its regulations. Please refer to the CRASC website at www.crasc.ca for more information.
How do I make a complaint?
Your completed complaint form, agent authorization form, attachments (if any) and the required fee (as indicated on your Assessment Notice) must be received no later than 4:30 p.m. on the deadline date (as indicated on your Assessment Notice) at your municipal office.
Complaint forms and agent authorization forms are available at the municipal office or at www.crasc.ca.
Each assessment in dispute requires a separate fully completed complaint form and required fee. Section 460 of the Municipal Government Act and its regulations set out other requirements with which you must comply, including disclosure requirements.
Please be advised that the Assessment Review Board CANNOT, and will not hear any matters or reasons that are not clearly described on the complaint form.