Property assessment notices for 2025 will be arriving in Red Deerians' mailboxes over the next few days.
The city said the total value of the assessment roll stands at $20.9 billion, marking an increase of $1.5 billion from the previous year.
The annual re-assessment reveals an upward trend in property values across various assessment classes. On average, residential property market values have increased by 9.95 per cent from last year. Multi-family properties will see an average increase of 5.21 per cent, while non-residential property values will see an average increase of 2.86 per cent.
“Overall, Red Deer’s residential values exhibited robust growth year-over-year due to heightened sales and strong market demand,” said city assessor Maureen Cleary, in a statement.
“Our housing market remains resilient, with solid sales indicating ongoing real estate market confidence throughout the city. Notably, the strongest property value changes are within attached and semi-detached residential housing, reflecting the appealing affordability and demand in these sectors.”
The 2025 property assessment values reflect the property’s market value as of the legislated valuation date of July 1, 2024, and its physical condition as of December 31, 2024. Any fluctuations in the real estate market or changes to property conditions after these dates will be considered in the next assessment year. For this reason, a property’s assessed value is considered historic and may differ from the current market value or a real estate appraisal.
“As a municipality, we are dedicated to delivering fair and equitable assessments,” Cleary added.
“We encourage property owners to engage with our Assessment Services team regarding any questions or concerns they may have. Our qualified assessors are readily available and can often resolve issues swiftly over the phone.”
Questions about property assessments can be directed to Assessment staff at 403-342-8235 or by email at Assessment@RedDeer.ca. A customer review period is in place until March 18, 2025, after which assessment values will be finalized. These values are then used to calculate property taxes.
Property owners can sign up to view and reprint assessment notices by registering their property through MyCity at RedDeer.ca/MyCity.
To learn more about property assessments in Red Deer, visit RedDeer.ca/Assessment.
