A change is coming in 2021!

The City of Camrose will be providing Assessment Notices earlier in the year, mailing notices out in January, in order to give rate payers an opportunity to review their assessment values prior to the tax notices being calculated and prepared. This change will allow the City to more accurately calculate the mill rate because all challenges to assessment values will be filed prior to calculation of the mill rate. 

Property assessment is a reflection of the estimated market value of a property. Your property assessment is the basis for the taxes you pay. Alberta's assessment process provides property owners with fair assessments of their properties. View the assessments of properties in Camrose by clicking on a lot on our Property Information interactive map.

How are assessments determined?

  • Through a process set by the Municipal Government Act
  • Based on the most likely sale price of your property on the open market at July 1 of the previous year

Factors that influence market value

  • Age of buildings
  • Lot size
  • Location
  • Building size, etc.

Important Dates

  • July 1, 2020 – Valuation Date: Assessors analyze sales, leases, listings, and market activity that happened before July 1 of the previous year.
  • December 31, 2020 – Condition Date: Assessors base your assessment on what existed December 31 of the previous year. 
  • January 14, 2021 – Assessment notices are mailed.
  • March 23, 2021 – Complaint Date: complaints must be received on or before this date

Notices

  • The City mails your assessment notice out in January.
  • The assessment notice gives you your assessed value.
  • The City mails your tax notice in May.
  • The taxation notice includes municipal, provincial education and provincial lodge requisition taxes.

Supplementary Assessment Notices

You will receive a Supplementary Notice if your property was not complete or if an improvement to your property was not complete by December.

Example 1

A vacant lot is assessed at $75,000 as of December 31. In the following year, construction of a home starts in March and is completed and occupied as of August 15. The home is assessed at a total value of $275,000 which consists of the land assessed at $75,000 and the house at $200,000. The annual tax notice – sent in May – is based on the value of the vacant land. The supplementary tax notice is calculated as follows:

  1. $275,000 Assessed Value (Land & Buildings) - 75,000 Assessed Value of Land (already on tax notice in May) = $ 200,000 Supplementary Value subject to Taxation
  2. $200,000 Supplementary Assessment x 0.0093399 Sample Tax Rate = $ 1,867.98
  3. $1,867.98 /12 months in the year = $155.67
  4. $155.67 x 5 (number of months occupied) = $775.35 Supplementary Tax

Example 2

A partially constructed home is assessed at $100,000 as of December 31. In the following year construction is finished and the home is occupied as of February 20. The home is assessed at a total value of $350,000. The annual tax notice – sent in May – is based on the partial assessment of $100,000 (that includes the land and value of the partially constructed home at December 31). The supplementary tax notice sent in September is calculated as follows:

  1. $350,000 Assessed Value (Land & Buildings) - $100,000 Assessed Value of Land & Partial Assessment of Building = $250,000 Supplementary Value subject to Taxation
  2. $250,000 Supplementary Assessment x 0.0093399 Sample Tax Rate = $2,334.98
  3. $2,334.98 / 12 (months in the year) = $194.58
  4. $194.58 x 11 (number of months occupied) = $2,140.38 Supplementary Tax

Average Change in Assessed Value by Neighbourhood for 2020 (July 1, 2020)

The 2021 Assessment Changes by Neighbourhood map shows the average change in residential values from July 1, 2019 to July 1, 2020 for each neighborhood. To see a specific assessment value for a particular property use the Property Information Interactive Map (2021 information coming soon).

What if you disagree with your assessment?

If you don't think your assessed value is what your property would have sold for on July 1 of the previous year, contact the Assessment department.

Still have questions?

Please view the list of Assessment FAQs.

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