Home values going up

Okotoks: Property assessment notices in the mail

By: Don Patterson

  |  Posted: Wednesday, Mar 19, 2014 06:00 am

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could result in higher taxes for some residents.

The Town of Okotoks mailed out property assessment notices to homeowners on March 10 and residents can expect to see an increase in the assessed value of their homes.

The assessment value for residential properties typically increased by three per cent, higher than the one per cent average increase seen in 2012.

Rob Mueller, Okotoks safety codes officer, said Okotoks is following the trend of rising home prices being seen across the province.

“If you’ve been watching what’s happening in Alberta in the entirety, assessed values are definitely going up,” he said.

Some neighbourhoods, including Drake Landing, Knowles Place, Westmount and Cimarron, saw assessment values rise by more than three per cent. Others, including the Sheep River neighbourhood, The Air Ranch, Crystal Shores and Woodhaven, saw an increase of less than three per cent.

The assessment reflects a property’s value as of July 1, 2013 and includes physical changes to a property up to December 31. There is a 60-day period for property owners to appeal their assessments if they feel they are not correct.

Mueller said homeowners who feel their assessments don’t reflect potential damages can appeal the assessment.

There weren’t many properties in town that suffered significant flood damage, but he said those that did can appeal if they don’t agree with their assesment.

“Our assessors can’t visit every property every year, so that’s why we have the 60 day appeal period,” he said. “It allows the residents to discuss with our assessor the physical issues on the property. If you have flood damage and you feel your assessment didn’t capture that, you could phone our assessor and discuss it with them.”

The assessment reflects a property’s value as of July 1, 2013 and includes physical changes to a property up to December 31. There is a 60-day period for property owners to appeal their assessments if they feel they are not correct.

The assessment report is one of the most important pieces of information the Town to set the tax rate and the final property tax bill homeowners will receive this spring.

“Now that we know that, the assessment values for residential and non-residential, we will generate our tax bylaws for council to consider for 2014,” said Wayne Braun, Okotoks financial services manager.

In December, town council approved a 4.3 per cent increase on the municipal portion of property tax bills. The Town still needs to set its mill-rate and make any final additions to the budget before the final tax bills are calculated.


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