• Assessment, Home, House,

FAQs

What is Property Assessment?

Property Assessment is an estimation of the market value of your home as of July 1 of the previous year. The assessment value is used to impose property taxes fairly and equitably.  

How do you calculate the size of my home and lot?

The size of your home is taken directly from the building plans provided to the Town of Okotoks.

How do I know my value is reasonable?

We use a comparison of property characteristics to similar sale properties within your community.  It is important to remember that the assessed value date is of July 1 of the previous year.

When will I get my Property Tax Bill?

Council sets the 2016 property tax rate in April. Your property tax bill will be mailed mid May and the deadline for payment of taxes is June 30, 2016.

Why do I receive my assessment notice before my property tax bill?

Assessment notices are mailed in advance of the property tax bill to allow property owners the opportunity to review the assessed value and ensure it is reasonable prior to the tax bill being sent out in May.

Why is there a difference between the sale/purchase price of my home and the assessed value?

Assessment values are determined by mass appraisal, which uses a common approach and common data to provide a typical value for a property. For similar properties, there are a range of prices. Your sale price may be at the upper or lower end of this range. A property’s sale price can be outside this range and its assessment can still meet the legislated standard.

How do you calculate the size of my lot?

Lot sizes are determined from the registered plan of subdivisions and the Land Titles Registry system.

Is GST included in the assessment of my new home?

Yes. GST is a cost incurred by a purchaser as part of the value paid. This amount should be reported to the Land Titles office. GST is typically recovered in the resale of the home, so no adjustments are made to the market value.

How do renovations or additions affect my assessment?

Your assessment is based on typical market value, so any significant changes to your home will likely impact its market value. Therefore, your property assessment will likely change accordingly.

Why is my property assessment higher than my neighbours?
  • Do you have the same type of home (two storey vs bungalow)?
  • Are your homes the same size?
  • Do you have the same size of lot?
  • Is your home newer or have you had a number of renovations recently?
  • Do you both have a garage or basement development?
  • Does your neighbor back directly onto a main traffic corridor that you do not?

Any or all of these factors can come into play when determining your home’s assessed value.

Why has my assessment increased when market value has decreased?

There are a number of factors that go into determining your assessed value. A variety of changes including extensive renovations, basement development, garages, additions, fireplaces and decks can alter the assessed value of a property.

The assessed value is determined through an analysis of properties that have sold in the previous year. Different neighborhoods or dwelling types may appreciate or depreciate in value at different rates from year to year.

The average market value of single family homes may have decreased overall, but the difference between each neighborhood may not match the overall year to year change.

What if I have a concern or believe there is an error on my property assessment notice?

Residential Assessment: Phone 403-938-8946 to make an appointment with an assessor or email assessment@okotoks.ca

How do I file a complaint?

Provincial legislation and Town bylaws outline how complaints must be made:

Your complaint must be submitted in writing on the form set out by the Government of Alberta Assessment Review Board Complaint Form.

It is important to complete all fields on the complaint form that are relevant to your property, including:

  • what information shown on the assessment notice is incorrect,
  • in what respect that information is incorrect, including identifying the specific issues related to the incorrect information that are to be decided by the Assessment Review Board and the grounds in support of these issues,
  • what the correct information is,
  • the requested assessed value, if the complaint relates to an assessment.
  • Be sure to include a statement specifying the date and outcome of the discussion with the assessor including details of any issues or facts agreed to. If you have not discussed the matters of the complaint with an assessor, specify why a discussion was not held. You may attach additional information to the complaint form if the space provided is insufficient.
  • An Assessment Review Board must not hear any matter in support of an issue that is not identified on the complaint form.
  • You must include your mailing address.
  • Should you have an agent file a complaint on your behalf, you must complete and sign the Assessment Complaints Agent Authorization form Assessment Agent Complaints Authorization Form.
  • Your complaint form must be accompanied by the appropriate filing fee or the complaint will be invalid.
  • Incomplete forms, complaints submitted after the final date of complaint or complaints without the required filing fee are invalid.
  • Complaint forms and fees may be dropped off or postmarked on or before the final date of complaint at the Town of Okotoks, 5 Elizabeth Street, PO Box 20, Okotoks AB T1S 1K1.
  • For further complaint process information the Assessment Review Board Clerk may be contacted at 403-995-2784.
How much are the complaint fees?

Complaint fees for the assessment complaint process are as follows:

Residential: 3 or fewer dwellings and farm land under one roll number - $50 per complaint
Residential: 4 or more dwellings - $325 per complaint
Non-residential: $650 per complaint

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