Property assessment notices are beginning to arrive; Customer Inquiry Period begins

STRATHMORE, ALBERTA | FEBRUARY 23, 2024 – Property assessment notices are beginning to arrive; Customer Inquiry Period begins

The Customer Inquiry Period is an important time for property owners to check, compare, and review their assessment for accuracy, fairness, and equity. One-on-one support is available by calling 403-343-3357. The Town's assessor, Wildrose Assessment Services, can answer most assessment-related questions—with no formal complaint fees required.

On February 15, The Town of Strathmore distributed more than 6,400 annual property assessment notices, signaling the start of the 2024 Customer Inquiry Period, which will extend until April 23, 2024.

In Alberta, property assessments are governed by regulations outlined in the Municipal Government Act, ensuring a fair system that promotes an equitable distribution of municipal taxes.

Property assessments in Strathmore are based on the market value of each property as of July 1st of the previous year, and the condition of the property as of December 31st of the same year.

Market value assessments are conducted using mass appraisal. For residential properties, third-party assessors gather, review, and analyze data from all arm's-length real estate sales transactions that occurred over a 12-month period. Factors such as the quality, size, features, and age of the property contribute to determining its final assessed value.

Since property assessment relies on market value, it is influenced by market changes driven by supply and demand dynamics. Additionally, any improvements or modifications made to a property can impact its assessment.

When property assessments arrive, most residents will notice that their property’s value has increased from last year due to high market demand in the region. Strathmore’s housing market remains strong with robust sales indicating continued strength and real estate market confidence throughout the community.

 2024 Customer Inquiry Period

The Customer Inquiry Period is an important time for property owners to check, compare, and review their assessment for accuracy, fairness, and equity.

When you receive your notice:

1. Review the details on your assessment notice.
2. Check what makes up your property’s assessment value and compare it with similar properties in your neighbourhood using Strathmore.ca/PropertySearch
3. Contact the Town’s assessor, Wildrose Assessment Services, for one-on-one support by calling 403-343-3357. Their property assessment experts can answer most assessment-related questions—with no formal complaint fees required. To help address concerns please have your latest assessment notice in front of you with the account number and valuation group information ready.
4. If you disagree with your property's assessment, you can file a formal complaint with the Assessment Review Board by the deadline stated on your latest property assessment notice. You can find information on this process, here.

Assessment and Property Taxes

It may seem intuitive that a big change in your assessed value will result in a big change in your property taxes. For example, if your assessment goes up 20%, your taxes will go up 20%. However, increases or decreases in assessed values do not automatically translate into increases or decreases in property taxes.

Through the annual assessment process, tax responsibility is re-distributed among properties based on the extent to which values change relative to other properties.

The most important factor is not how much your assessed value has changed, but how your assessed value has changed relative to the average change for all properties in Strathmore.

All customers receive a property tax notice no later than May 31 of each year. This notice is comprised of two processes: preparing the assessments and setting the tax rate. The assessor’s job is to prepare assessments. Town Council is responsible for setting the tax rate. Together, these values determine your tax bill. 

Learn more about how property assessments relate to property taxes, here.