City distributes annual assessment notices
AIRDRIE, AB – The City of Airdrie mailed this year’s assessment notices on Jan. 14, 2019. Overall, many homes will see a marginal decrease in assessed values. The assessed value is based on economic conditions as of July 1 and the home’s physical condition and characteristics as of Dec. 31 of the previous year. A persistent oversupply of homes for sale in Airdrie has caused a slight decrease in residential property assessments, however, home prices have remained relatively stable. The non-residential market remains consistent with a slight increase to some rental rates.
“We’re fortunate to experience relative stability in assessment values again this year,” said Valerie Cottreau, City Assessor. “Despite the decrease in assessed values, homes are still holding their value - they may, however, spend longer on the market.”
Several factors contribute to movement in assessment values including new construction, renovation, re-inspections and consumer response to housing and business needs.
It is important to note that as assessment values change, the tax rates will be adjusted accordingly depending on a variety of factors, including the provincial budget.
The City of Airdrie Assessment department looks at Multiple Listing Service (MLS) and other technology during their sales investigation to get information that is as accurate as possible. Residents with questions about their assessment notice can call a City of Airdrie assessor at 403.948.8855 or send a message at www.airdrie.ca/assessment.
Basic information for all City properties and overall assessment changes by property type/ neighbourhood can be found at www.airdrie.ca/airdriemap. Residents are also able to view their notice and property assessment details on their MyAirdrie account. Residents without an account can sign up at MyAirdrie.ca using the web code provided on their Assessment notice.
403.948.8800 ext. 8460