1. How is my assessment determined?
Your assessment is based on the market value of your property.

2. What is market value?
Market value is the most probable selling price of a property, on the open market, as of a specific date, assuming a knowledgeable buyer and seller.

3. What specific date is my market value assessment based on?
Each year your assessment is based on the market conditions of July 1 of the previous year. So for 2021, your market value is based on the real estate market as of July 1, 2020. The assessment also reflects the physical condition of your home on as it existed on December31, 2020.

4. How has the COVID-19 pandemic impacted my assessment?
Transactions from the market place occurring up to July 1, 2020 have been included in the analysis performed by the assessment department.

5. Why does the City use this system to determine assessments?
Legislation in Alberta specifies the manner in which assessments must be prepared. All properties in Alberta are assessed using the same parameters and guidelines.

6. Why do I pay property tax?
Each year the City determines the budget required to pay for the services and programs for the year. As part of this process, it determines the amount of the total budget that the City must receive from property taxes. The City of Camrose relies on property taxes as a major source of revenue to fund protective services, engineering services, roads, administration, parks / recreation, and culture. The total property taxes collected is commonly known as a municipal levy.

7. How are my property taxes determined?
Individual property taxes are determined by applying a tax rate to your property’s assessed value.

8. How is the tax rate determined?
A tax rate is determined by dividing the total assessment for a municipality into the total budgeted requirements.

9. Where does this assessment notice show my taxes?
This is an assessment notice only. This shows the amount of the assessed value as well other descriptions of your property. A tax notice will be mailed in May.

10. When should I talk to someone if I feel the assessment is incorrect?
The assessors will discuss your assessment with at any time throughout the year. However there is a window where a formal appeal is allowed. That period begins the day the notices are sent and ends on March 24, 2021. You can contact the Assessment staff at 780.678.3032 or via email at assessment@camrose.ca.

You have the right to file a complaint regarding the assessed value of your property. You can find information about the complaint process at https://www.camrose.ca/en/living-here/assessment-review-board.aspx 

 

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