ASSESSMENT & ASSESSMENT COMPLAINT
ASSESSMENT & ASSESSMENT COMPLAINT INFORMATION
Assessment Complaint Deadline:
Monday, July 25, 2022
Assessment Information Brochure for Residential Property Owners 2023
Property assessment is the process of estimating the market value of your property for municipal & education taxation purposes. Assessment is simply a distribution mechanism. The property taxes you pay are calculated in proportion to the value of the real estate you own. A qualified assessor prepares annual assessments for all properties within Yellowstone. The assessor is dedicated to providing a fair & accurate assessment for Yellowstone taxpayers. The assessor can be contacted at 780-939-3310 – Dan Kanuka.
Market value is the valuation standard set by provincial legislation & is the basis for property valuation across Alberta. Market value is the probable price your property could sell for in a competitive & open market as of a given date. Market value is recognized as the most understandable, transparent & objective measure of a property’s worth. The market value shown on your current Assessment & Taxation notice is based on a legislated valuation date of July 1st of the previous year & reflects the physical condition of your property as of Dec 31st of the previous year.
How are Market Value Assessments Prepared
Market value assessments are prepared using mass appraisal. This is the process of valuing a group of properties at a given date, using standard methods and allowing for statistical testing. For residential property, assessors compile, review & analyze information from all legitimate real estate sale transactions that have occurred in Yellowstone over the 12-month period prior to the valuation date. This process results in the estimated value of your property as of July 1st of the previous year.