Your assessment is an estimate of the price your property may have sold for on the open market as of July 1, of the previous year. Assessed values reflect the physical condition of the property as of December 31, of the previous year.
Provincial legislation states that municipalities must use market value assessments to determine each property’s fair share of revenue requirements from property taxes for municipal and education services.
Market value assessments are prepared utilizing Mass Appraisal. For residential property, assessors collect, review and analyze information from all arms-length real estate sales transactions that occurred over a 12 month period. The quality, size, feature, and age of your home are some of the factors in determining the final value of your property.
Market value is determined annually by Benchmark Assessors who are contracted by the City. If you would like the assessor to inspect your property or have any questions or concerns regarding your assessment, please contact Ryan Vogt at Benchmark Assessors by calling toll free 1-800-633-9012.
Property Assessment Notices
Property assessments are undertaken annually. Notices of assessed value of your property are combined with the annual property tax notices and are sent in mid-May of each year. They are sent to advise you of the assessor’s estimate of the value of your property and that value is multiplied by the tax rate in order to calculate your property taxes.
Filing a complaint
Every property owner has the right to appeal their assessment, within 60 days of the date of the Assessment Notice, if they do not feel that it is fair and equitable. See Assessment-Complaints