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Edmonton property owners should expect tax assessments this month

Click to play video: '5% tax increases for next 4 years in Edmonton’s 2023-2026 budget'
5% tax increases for next 4 years in Edmonton’s 2023-2026 budget
WATCH (Dec. 16): The 2023-2026 budget was presented with an annual property tax increases of 3.9 per cent each year — but on Friday, council passed it with an unofficial increase of five per cent. Sarah Komadina reports – Dec 16, 2022

Property assessment notices will be sent out to Edmonton owners on Jan. 16.

The notice date was moved to mid-January last year to avoid the holiday season.

Assessment notices contain important information about a property’s value and include an estimate of what the corresponding property taxes are for 2023.

Property owners can expect a tax increase for 2023. In December, city council approved a tax increase of nearly five per cent when it set the 2023-2026 budget.

The overall tax increases are slated to come in at 4.96 per cent in 2023, 4.96 per cent in 2024, 4.95 per cent in 2025 and 4.39 per cent in 2026.

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The city said in 2023, Edmonton households can expect to pay about $725 for every $100,000 of assessed home value — an increase of $34 from 2022.

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That means for a typical single-family, detached home assessed at $400,000, the property taxes would be about $2,900.

Click to play video: 'Business community has ‘deep concerns’ with Edmonton budget, tax increases'
Business community has ‘deep concerns’ with Edmonton budget, tax increases

The assessment is not a property tax notice — those arrive in May.

“Our assessment values are based on a property’s market value as of July 1, 2022,” explained Cate Watt, branch manager, with city assessment and taxation.

“We encourage all property owners to review their assessment values and contact us via 311 if they have any concerns. Our assessors can help to address any questions about individual assessments.”

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Assessment information will also be posted to the myproperty.edmonton.ca website on Jan. 16, so that Edmontonians can access all of their assessment and tax information online.

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