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  • Property Assessment

What is Property Assessment?

Property Assessment is an estimate of the typical market value of your property developed for the purposes of determining your portion of the municipality's property tax.  The values for those parcels deemed taxable generate property taxes.

This video provides a brief description of how assessments are connected to property taxes:

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Key Assessment Dates

Annual assessment notices are mailed to property owners mid-January. The assessed value reflects the value of your property as of July 1 of the previous year.  This value is based on economic conditions and the property's physical condition and characteristics as of December 31 of the previous year.  By sending property assessment notices in advance of the property tax notices, owners have the opportunity to review their assessment and raise any concerns they may have about their assessed value before taxes are calculated.

Key Assessment Dates

 

January 4, 2019

Assessment notices mailed

March 12, 2019 

End of 60 day review period

April 2019

Town Council sets tax rates

May 2019

Property tax notices mailed

June 2019

Property taxes due

August 1, 2019

Supplementary assessments mailed

August 30, 2019

Supplementary taxes due

November 1, 2019

Supplementary assessments mailed

November 30, 2019

Supplementary taxes due

What is my property assessment based on?
  • An estimate of the typical market value of your property developed for the purposes of determining your portion of the municipality's property tax.
  • The values for those parcels deemed taxable generate property taxes.
  • The assessment and taxation process is governed by provincial legislation; your property assessment notice is based on a July 1 market value estimate, as measured by the real estate marketplace (i.e. property sales).
  • Market Value is the most probable price that a property would sell for as of a given date.
  • The purpose is not to reflect one sale price, but to assess all similar property at a similar value so that taxation is fairly and uniformly distributed among all taxable property.
  • Mass appraisal is the process of valuing groups of properties as of a specific valuation date which is July 1.
  • Provincial legislation requires that mass appraisal be used to calculate market values.
  • Both mass appraisal and single-family appraisals are methods for arriving at estimates of value differing only in scope;
  • Single-Property:  Represent the market for one kind of property in a limited area, more site specific.
  • Mass Appraisal:  Valuing groups of properties, the mass appraisal process results in values that are accurate in relation to the market value standard and uniform in comparison to similar properties. 
How do I know my assessment value is accurate?

Your property characteristics are measured against other properties that have sold in order to calculate a market value. Characteristics such as location, age, size and others are all considered.

First, read your assessment notice carefully.  Are your name and address correct?  Check the property classification (residential, farmland, non-residential). Does it correctly describe your property?

If, after having compared your new assessment to its previous years' market value and to assessments of similar neighboring properties, you have questions or concerns about the information on your notice, call 403-995-6313 to make an appointment or send an online inquiry to an Assessor by clicking the button below.

Contact Us

There is a 60-day period to allow property owners a chance to review the accuracy of their Assessment Notice.  Assessment Services encourages property owners to call and speak to an assessor to review any property characteristics or concerns.

What if I have questions about my property assessment?

After receiving an Assessment Notice, a property owner may discuss and review their property assessment with an Assessor.  Assessors are available by phone and on-site at the Town of Okotoks Municipal Centre during regular office hours. The Assessment Roll is open for viewing all year. In addition, individual assessments can be viewed by using the assessment roll search tool.

If I don't agree with my property assessment, what can I do?

If, after having discussed your assessment with an assessor, you are still of the opinion that your assessment is incorrect, you may file a written complaint to the Assessment Review Board.  Information on Assessment Complaints and Appeals may be reviewed on the Municipal Affairs website.