Assessed home values increase for many
Thursday, Jan 11, 2018 06:00 am
The value of single-family residential properties in Airdrie has increased slightly, according to City of Airdrie assessor Val Cottreau.
“Overall for residential properties, they’re going to see about a three per cent increase,” she said. “It’s good. We’ve got a lot of consumer confidence within the city. To see a little bit of an increase, it’s a good sign. It shows that our economy is maybe a bit stronger than the previous year.”
According to Cottreau, property values fluctuate for a number of factors, including property improvements – such as finishing a basement, adding a garage, etc. – the trends in sales of pre-owned homes and new construction.
Cottreau said assessments of multi-family properties are remaining quite flat, with the exception of apartment-style condos, which have decreased by approximately five per cent in assessed value.
Apartment-style condos in the community of King’s Heights are an exception, according to Cottreau, and have increased a bit in value.
“We’ll see that a lot – our values come up – when we have newer communities where we’re getting the re-sales and we get quite a few more sales and data to work with,” she said.
Property assessments were mailed out to residents Jan. 4.
City council approved a 4.08 per cent increase to property taxes in December 2017 when the 2018 operating and capital budgets were approved. The property tax rate will not be set until May, according to Cottreau.
“Within the tax rate, there’s basically two components – there’s the school tax that we collect on behalf of the province and then remit it back, and then there’s the municipal portion. That money stays within the city of Airdrie,” she said.
Homeowners can view their assessment online by signing up for a MyAirdrie account at airdrie.ca/myairdrie Cottreau said residents should check details about their property and call the Assessment Department if they see errors.
“If they see any errors whatsoever, they can call us. If it’s a factual data thing, we can make an adjustment,” she said. “If we had an error on your account, we’ll either come do an assessment or pull the plans on your home, make the correction and then we issue an amended notice.”
Homeowners who disagree with their assessment and wishing to file an appeal are asked to first phone the Assessment Department and speak to an assessor to discuss their concerns. The department can be reached at 403-948-8855.
The Assessment Review Board clerk must receive a copy of a complaint no later than March 12.
There is a cost of $25 to file a complaint, which is reduced to $20 if the complaint is filed within the first 30 days of the assessment complaint period.