January 2, 2019
Edmonton property owners will receive their 2019 property assessment notices soon.
2019 property assessments reflect the City’s estimate of a property’s market value—the amount that a property would have sold for in the open market—as of July 1, 2018. This date is legislated by the Government of Alberta.
“The majority of residential property owners throughout Edmonton will see slight decreases in assessed values from July 1, 2017 to July 1, 2018,” says Assessment and Taxation Branch Manager Rod Risling. “Single-family, detached homes saw a smaller decrease, while condominium properties experienced the most significant decrease.”
Based on a July 1, 2018 valuation date, the market value of a typical single-family, detached home in Edmonton is $399,500.
Overall, the residential market experienced a 1.7 per cent decrease in assessed value. Specific types of properties showed the following trends:
- Single-family, detached properties decreased by 0.8 per cent
- Duplexes, triplexes and fourplexes decreased by 0.3 per cent
- Condominiums and townhomes decreased by 4.5 per cent
- Apartment buildings decreased by 2.2 per cent
Commercial and industrial properties saw an overall increase of 0.6 per cent.
Risling encourages all property owners to carefully review their assessment notices and take advantage of the City’s
online resources
.
From there, property owners may contact 311 and request to speak to a City assessor.
“If you don’t receive your notice by January 11, find an error or feel your assessed value doesn’t reflect market value as of July 1, 2018, it’s important to contact us as soon as possible,” says Risling.
For those who want a more in-depth look at their property data, the City offers the
MyProperty
secure site.
If property owners are still concerned about their assessment after speaking to a City representative, they may submit a formal complaint with the
Assessment Review Board
,
by March 11, 2019.
Property tax bills will be delivered in May 2019, after the Government of Alberta establishes its budget to fund the provincial education system.
