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.
Based on the most likely sale price of your property on the open market at July 1 of the previous year
Check out the video below to find out how assessment and municipal taxation works:
Factors that influence market value
Age of buildings
Lot size
Location
Building size, etc.
Important Dates
July 1, 2023 – Valuation Date: Assessors analyze sales, leases, listings, and market activity that happened before July 1 of the previous year.
December 31, 2023 – Condition Date: Assessors base your assessment on what existed December 31 of the previous year.
January 11, 2024 – Assessment notices are mailed.
March 19, 2024 – Complaint Date: complaints must be received on or before this date
Notices
The City of Camrose mails assessment notices out in January to give rate payers an opportunity to review their assessment values prior to the tax notices being calculated and prepared. This also allows 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.
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:
$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
$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:
$350,000 Assessed Value (Land & Buildings) - $100,000 Assessed Value of Land & Partial Assessment of Building = $250,000 Supplementary Value subject to Taxation
$250,000 Supplementary Assessment x 0.0093399 Sample Tax Rate = $2,334.98
$2,334.98 / 12 (months in the year) = $194.58
$194.58 x 11 (number of months occupied) = $2,140.38 Supplementary Tax
Average Change in Assessed Value by Neighbourhood for 2024 (July 1, 2023)
Assessors aim to inspect each property in the City every five years
Inspections can be done by a variety of methods including interior inspections and exterior inspections
Owners will receive a letter to request to schedule an appointment if an interior inspection is required
The owner can schedule the inspection by phoning the assessment department at 780.678.3032
An adult must be present
Contact the assessment department if you have concerns about the inspection process
As an alternative to an interior inspection the City also uses a process known as “Request for Information”
A “Request for Information” is a questionnaire about the property that owners can complete
Request for Information questionnaires can be completed online or on paper and returned to the assessment department.
The inspection and request for information processes provide updated information on the physical characteristics of your property. The information collected is used to establish the market value assessment.
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.
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