How is my assessment value determined?
To offer fair and equitable assessments, values are determined through the mass appraisal approach, analyzing properties that have sold within the 3 year valuation period leading up to July 1, 2020. Different neighbourhoods or dwelling types may see their value appreciate or depreciate from year to year.
The purpose of the assessment is not to reflect a single sale price, but to assess all properties at typical market value as of the same valuation date.
Many factors are considered when valuing property such as:
- Lot size and home square footage
- Home features, finishes and quality
- Property location
How do renovations or additions affect my assessment?
Your assessment is based on typical market value, so any significant changes to your home will likely impact the market value. Therefore, your property assessment will likely change accordingly.
How is the size of my home and lot acquired?
- The square footage of your home is taken directly from the building plans provided to the City of Airdrie.
- Lot sizes are determined from the registered plan of subdivisions and the Land Titles Registry system.
Why is my assessment notice mailed before my tax bill?
Assessment notices are mailed before tax bills to allow property owners the opportunity to review their assessed value, property details and raise any concerns before taxes are calculated. The legislation provides a 60 day review period starting on the Notice of Assessment date. Changes to your assessment will only be considered if an inquiry is received during this legislated time frame.