The Town of Strathmore's Assessment Department annually evaluates all real estate properties with in the Town’s boundaries in adherence to the Alberta Statute, the Municipal Government Act (M.G.A.) and associated regulations. The purpose of assessment is to fairly and equitably establish values allowing for the fair distribution of the property tax burden. Assessed values are based on establishing Market Value or a Regulated Value. Please note, the process of assessment underwent some legislative changes in 2009. Bill 23 was passed and some processes and timelines have changed.
Fairness and Equity
Property assessment promotes fairness by ensuring that two properties of the same value, in the same assessment class, pay the same taxes. All property values change over time, but not all change at the same rate. Some properties increase faster than others. If assessed values were not updated with market value changes, some rate payers would be paying a disproportionate share of the tax burden. The annual evaluation of assessments maintains equity by ensuring that the assessed value consistently reflects a reasonable property value as of July 1st of the previous year.
Market Value and Mass Appraisal
The Municipal Government Act (section 1(n)) defines market value "as the amount that a property might be expected to realize if it is sold on the open market by a willing seller to a willing buyer." The market valuation date is as of July 1st the year proceeding the tax year, i.e., July 1, 2009 is the assessment valuation date for the 2010 tax year.
All commercial and residential properties in the Town of Strathmore are assessed using mass appraisal. Mass appraisal is the process of preparing assessments for a group of properties using standard methods and common data and allowing for statistical testing. Assessors track sales in the same and similar neighbourhoods to estimate the market value of real property. Adjustments may be made to the assessed value for influences such as location next to a heavy traffic corridor or view from the property. The town office keeps records on file about each property and the sales that take place. The assessor uses this data to calculate the market value of real estate property as of the July 1st valuation date.
Tax Estimator
The Town of Strathmore department is in the process of developing the 2009 property assessment roll. Until such time as the 2010 mill rate has been approved by Strathmore’s Town Council the residential and not residential calculators have been removed. The calculators will be returned when the 2009 assessment roll has been finalized and the 2010 property tax mill rate has been determined
You can view your current and previous years assessments by doing a property search in Strathmore's Virtual Town Hall. The link is found under Online Services at the top right hand side of this page.
What if I disagree with my assessment?
|