EDMONTON – Edmontonians can expect their 2014 property assessment to be a little higher when they receive it in the next few days.
According to the City, most residential and non-residential property values in Edmonton rose slightly from 2012 to 2013.
“Favourable real estate market conditions and the volume of new construction that we’ve seen in the past few years resulted in an increase in the total assessed value of most properties in Edmonton,” explained Rod Risling, manager of the City’s Assessment and Taxation Branch.
- The typical single-family, detached home is now valued at $374,500 – an increase of 2.5 per cent
- The assessed value of condominiums, townhouses and duplexes rose by 2.1 per cent
- The assessed value of apartment buildings rose by approximately 6.6 per cent
- The assessed value of commercial/industrial properties rose by approximately 6.3 per cent
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“I encourage all property owners to review their assessment notices carefully,” said Risling.
Edmontonians can use the City’s website to find out the value of their property, how it compares to similar properties in the area, and what information City assessors use to determine property values.
INTERACTIVE: Explore home price changes in neighbourhoods across Edmonton
Property owners can file a formal complaint with the Assessment Review Board by March 10, 2014 if their concerns aren’t resolved after talking with an assessor.
The assessment can be appealed, unlike tax bills. Those notices will be delivered in May.
In the 2014 budget that was passed in December, Edmonton’s new city council approved a 4.9 per cent tax increase, lower than the 5.5 per cent hike originally proposed.
On average, Edmonton homeowners will pay an extra $95 this year in property taxes as a result of that increase.
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