Property owners in Red Deer should be getting their property assessment notices in the mail in the coming days.
In a news release, city officials said property value in the city saw an average increase of 0.18 per cent last year.
The median value of single-family detached homes remained unchanged from 2020 at $327,800, while multi-family properties decreased by 1.43 per cent. Non-residential property values saw an average decrease of 0.54 per cent.
“Overall, Red Deer’s assessed values remained stable, with residential values and certain sectors of non-residential showing moderate recovery from 2020 values,” said Maureen Cleary, city assessor.
“Property assessments reflect the typical market value of a property as of July 1, 2021.”
Customers will be allowed to review their assessment between January 14 and March 23, 2022, after which assessment values are considered final. Assessment values are later used to calculate property taxes, which cannot be disputed.
According to the release, the city’s 2022 property assessment values reflect the property’s market value as of the legislated as of July 1, 2021, and its physical condition as of Dec. 31, 2021.
“We are committed to delivering fair and equitable assessments, and a large part of that is working directly with property owners to address any questions they may have,” said Cleary. “We encourage anyone with questions or concerns about their assessment to reach out to our Assessment Services team. Our qualified Assessors are available to speak to property owners and find most concerns are able to be resolved over the phone.”
Anyone with questions or concerns about their assessment is encouraged to contact the city’s Revenue and Assessment Services department at 403-342-8126 or assessment@reddeer.ca. More information about property assessments can be found on the city website at www.reddeer.ca/assessment.