My Property Assessment

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 Assessment FAQ's: 

1. What is property assessment?
2. What are the key factors that affect my property's value?
3. What is a Property Assessment & Tax Notice?
4. Where can I find all the assessed values in the city?
5. How do I get detailed information on other properties?
6. Why is my property assessment different every year? 

Other Assessment Related Questions:

1. I paid $265,000 for this property. Why is it assessed at $275,000?
2. How do I know my assessment is fair?
3. What can I do if I believe my assessment and property details are incorrect?
4. What does my property class mean?
5. When will I get my residential assessment and taxation notice?
6. How can I contact the Assessment Department?

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 Important information about the Assessment Process for

INCOME PRODUCING PROPERTIES

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What is property assessment?

Your assessment is an estimate of the price your property may have sold for on the open market by a willing seller to a willing buyer as of July 1, of the previous year. 

What are the key factors that affect my property's value?

   Your assessment is built on many factors including:
   • Size
   • Quality
   • Age
   • Lot size 
   • Location 

What is a Property Assessment & Tax Notice?

A Property Assessment & Tax Notice advises you of:

• Your new current assessed value
• Your legal description (Plan;Block;Lot)
• Your street maintenance tax
• Your declared school support
• Your total outstanding property taxes

Need help understanding your notice? Find it here!

Where can I find all the assessed values for the City?

All property assessments can be searched here on the NEW GIS system!

OR

All assessed values are included on the assessment roll available at the Assessment and Taxation Office and include:

How do I get detailed information on other properties?

General property searches on other houses will be provided to you for $25. Assessment summary reports are $30 for a single family dwelling and $50 for other property.

Why is my property assessment different every year?

Your City is required to reassess all properties annually. Your current assessment is based on the market value as of July 1, of the previous year.

I paid $265,000 for this property. Why is it assessed at $275,000?

A range of sale prices results when similar properties are sold during the same time frame. Assessed values reflect the sales in the middle of this range of prices. That is why your assessed value may be higher or lower than the price you purchased your home for.

How do I know my assessment is fair?

You may wish to compare your assessments to your neighbor's and other similar properties that have recently sold. As well, the Province performs an audit every year to ensure City assessments meet Provincial quality standards. You can also contact your Assessment Department with any questions for more details on your assessment. We would be happy to assist you and answer any inquiries.

What can I do if I believe my assessment and property details are incorrect? 

At your City’s Assessment Department, we welcome any inquiries regarding your assessed value. If there are errors in the physical characteristics recorded, the appraiser will amend the assessment accordingly. Below outlines the actions you can take to help ensure your assessed value is correct:

 What does my property class mean?

 Single Family Residence and Farmland:

Multi-Family Residential:

• Residential properties other than single family residential

• Boarding houses with more than three sleeping rooms
• Vacant land to be used for multi-family purposes

 

Non-Residential:

    

When will I get my residential assessment and taxation notice?

Notices for properties that are 3 units or less are sent in May. Are you missing your notice? Please contact the Tax Department. 

Important information about the Assessment Process for

INCOME PRODUCING PROPERTIES

1. Your City is mailing a split assessment and tax notice for commercial, industrial, and residential rental (4 units or more) properties. The separate assessment notice will be mailed in February with the tax notice following in May.
2. Included in your assessment notice is an estimated tax amount. This is not the actual tax, but an estimate. The actual tax rates will be finalized in April.
3. You have a 60 day review period between the mailing of your assessment notice and the date complaints are due. Use this time to review with an assessor how your assessment was determined. If there is an error in the assessment data, the assessor can amend your assessment before you file a complaint.
4. If, after meeting with the assessor, there is still a disagreement with the assessed value or classification, you may file a complaint to the Assessment Review Board. A legislated standard complaint form can be found here. Ensure you provide complete information on your form and your fee is included with the complaint. The deadline for filing complaints is outlined on your assessment notice.
5. If you hire someone to represent you, you must complete the legislated agent authorization form.
6. Need help understanding your Assessment Notice? Find it here!

How can I contact the Assessment Department?

 

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