In an effort to ensure that property owners pay their share of the province’s municipal and education property taxes, the City of Edmonton performs a property assessment on individual homes. Market value assessment is considered to be one of the most fair and evident ways to determine a home owner’s property tax. The Government of Alberta requires Edmonton to determine an owner’s property assessment annually based on this fair market assessment.

What Assessors Look For

A property assessment is the estimate of your property’s market value as of July 1st of the previous year. The assessed value is then used to determine your property tax. Using criteria similar to that of an appraiser or real estate agent, city assessors review and analyze available data to determine a value for your property. Things like the size of the home, size of the lot, building condition, neighborhood and other factors are all considered when helping the assessor determine an assessed value. Edmonton also uses resources such as property sales in the area and city records such as permits and construction information to help determine a figure.

How are Properties Assessed?

A property assessment notice on your home contains an estimate of your property’s market value on July 1st of the previous year as determined by the city. This figure is reviewed and adjustments are made accordingly for any change to the condition of the property such as improvements to the interior or exterior of the home as recorded by December 31st. If you are in the process of new construction and this is not complete by December 31st, your assessment notice will only show the value of the land as well as the value of the completed portion of the home. Once construction is complete, Edmonton will issue an amendment known as a supplementary assessment which will reflect the value of the newly completed construction.

Once the city determines the value of your property, they will use this assessed value to calculate the amount of education and municipal property tax you must pay. A change in assessed values will have an impact on the amount of property tax you pay. For example, an increased assessed property value will equate to an increased municipal tax. Your tax bill will also contain a provincial education tax which accounts for approximately 30% of the total property tax for Edmonton homeowners. The city collects this education tax and then passes it on to the Government of Alberta as required through legislation.

Reviewing your Assessment

Property assessment notices are sent out in January. There is a review period deadline which is listed on your assessment. During this review period you have the chance to review the assessment and determine if there are any errors or problems with your notice. If the property owner finds any errors in any of the material listed on the assessment, the city will issue an amendment notice. Edmonton mails these amendment notices out throughout the year. If you receive an amendment you have 60 days to review the notice and accept or make additional changes.