Assessment

• 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

Check out the video below to find out how assessment and municipal taxation works:

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

• July 1, 2024 – Valuation Date: Assessors analyze sales, leases, listings, and market activity that happened before July 1 of the previous year.
• December 31, 2024 – Condition Date: Assessors base your assessment on what existed December 31 of the previous year. 
• January 9, 2025 – Assessment notices are mailed.
• March 17, 2025 – Complaint Date: complaints must be received on or before this date

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.

How to Read Your Assessment Notice

1. Date to appeal assessment
2. Property owner’s mailing address
3. Any noted improvements on your property affecting the valuation
4. Legal Land Description of the property
5. Where you have chosen to assign your school taxes
6. The classification of your property for the purpose of assigning the millrate
7. Total Assessed Value of your property

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:

The 2025 Assessment Changes by Neighbourhood Map shows the average change in residential values from July 1, 2023 to July 1, 2024 for each neighborhood. To see a specific assessment value for a particular property, use the Property Information Interactive Map.

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.

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.

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

What date is my market value assessment based on?
Each year your assessment is based on the market conditions on July 1 of the previous year. For 2025, your market value is based on the real estate market as of July 1, 2024. The assessment also reflects the physical condition of your home as it existed on December 31, 2024.

Will my taxes increase by the same amount as my assessment?
No. Residential property assessments have increased significantly this year. For example, a 10% increase to your home's assessment will not result in a 10% tax increase. Exact property tax amounts will be available in May.

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.

What should I do if I feel my assessment or other information on my assessment notice is incorrect?
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. View more information about the complaint process.