January 03, 2012
The 2012 property assessment notices are being mailed to 326,600 property owners in Edmonton. On average the value for most houses in Edmonton remained the same, or was slightly lower.
Edmonton’s single-family residential properties decreased in value by an average of 1.7% from 2010. The provincially-legislated date used for the 2012 assessment is July 1, 2011.
These notices are not the tax bill (distributed annually in May). Provincial law mandates that an assessment of property value be used to determine each property owner’s share of the total municipal tax levy – which funds the City’s annual budget for civic services – as well as the provincial education tax requirement.
“We encourage homeowners to review their property’s assessed value, compare it with similar properties in their area using our online tool, and make sure the value reflects what the house could have sold for on the open market on July 1 last year,” said Rod Risling, Manager of the Assessment and Taxation Branch. “If people have a concern, they should call our assessors at 780-496-6388 to review it and in most cases errors can be corrected right away.”
If concerns remain unresolved after talking to an assessor, the homeowner may file a written complaint with the Assessment Review Board by March 12, using the form provided with the notice of assessment. Property owners can appeal their assessment, but tax bills cannot be appealed.
General assessment and neighbourhood information is available at www.edmonton.ca/assessment. More detailed assessment data regarding your home and sales within your neighbourhood can be found at https://assessmentinfo.edmonton.ca/ using a password provided on the front of each assessment notice.
The City uses the records for all property sales to assess the value for all properties. Assessors look at other factors such as property age, location, features, size and condition. Provincial law requires the City to use this market value method to determine assessments of all properties as if they sold on July 1, and to use these valuations as the basis for levying both municipal taxes and provincial education taxes.
The City’s budget, passed in December, requires a 5.39% increase (includes 1.5% for neighbourhood renewal) in municipal taxes to cover the increase in costs to service an expanding city and additional costs related to staff for new recreation facilities, LRT expansion, and enhanced services such as snow removal, mosquito control and road maintenance.
A tax estimate is provided on the assessment notice, showing the owner approximately how much the taxes will change based on the change in assessed value. However, the estimate does not include the amount required for the 2012 municipal budget increase or for the provincial education tax, both finalized later this spring. To assist property owners with budgeting for their 2012 tax bill, a more detailed estimate can be obtained by using the City’s online Tax Estimator.
If the property’s value changed at the same rate as the average for the entire residential property class, which includes apartments, the homeowner will see the 5.39% municipal tax increase. Homeowners whose property value decreased less than the average, or increased in value, will see their taxes increase more than the budget-required 5.39%. Homeowners whose property value decreased more than the average will see their taxes decrease or increase by less than the budget-required tax increase.
Changes in property values
The median assessed value of the typical single-family detached house is $357,000. The average decline was about 1.7% or approximately $6,000 less than last year. Assessed value of condominium units, townhouses and manufactured homes was down an average 1.9%. Apartments rose an average 0.5%. Commercial properties saw a 2.4% decrease in average assessed value.
Total assessment values are $100 billion for residential classes and $34 billion for the non-residential class.
Exceptions to the average
Not all properties and neighbourhoods reflect the average change in assessed value. Over a five-year period, all neighbourhoods change in value by roughly the same amount, but from year to year different neighbourhoods change at different rates.
The five communities in which the average assessment for single family homes fell the most were:
Canora - 10.3%
Boyle Street - 9.3%
Glengarry - 8.2%
Ogilvie Ridge - 7.2%
Athlone - 7.2%
The five communities in which the average assessment for single family homes increased the most were:
Secord - 10.2%
Windsor Park - 9.7%
Walker - 9.7%
Brookside - 9.7%
Westmount - 8.6%
