Property Assessment

Assessment Notices are mailed in June annually

The Provincial Government sets the legislative framework for property assessment in Alberta through the Municipal Government Act. In compliance with this legislation, the Town of Milk River delegates an Assessor to annually prepare assessments. This Assessor ensures that the assessment complies with the Standard of Assessment Regulation as set out in the Municipal Government Act. The Audit Branch of Alberta Municipal Affairs monitors assessments to ensure assessors have applied legislation properly and that assessments are prepared using the same value standards for all properties and that the resulting assessments are fair and equitable. The Town and Province use these values when they each calculate the municipal and education portions of the total property tax levy.

 

Understanding your Property Assessment Notice

Market value, as defined in the Municipal Government Act 1(n), means the amount that a property might be expected to realize if it is sold on the open market by a willing seller to a willing buyer. Market value assessments are calculated by using mass appraisal techniques that determine property values by grouping similar properties as of a specific date.

The purpose of assessment is not to reflect a single sale price but to assess all properties at typical market value on the same valuation date so that taxation is fairly and uniformly shared. The assessed value as shown on your Current year. Notice is based on July 1, of the previous tax year economic conditions and the physical condition and characteristics of the property as of December 31, of the previous tax year. With this in mind, please compare your current assessed value to the market conditions as of July 1, of the previous tax year and not to current market conditions.

The purpose of assessment is not to reflect a single sale price but to assess all properties at typical market value on the same valuation date so that taxation is fairly and uniformly shared. The assessed value as shown on your Current year. Notice is based on July 1, of the previous tax year economic conditions and the physical condition and characteristics of the property as of December 31, of the previous tax year. With this in mind, please compare your current assessed value to the market conditions as of July 1, of the previous tax year and not to current market conditions.

 

  • Assessment value is used to calculate your property tax levy using the following formula: assessed property value X tax rate = tax levy.
  • Annual Municipal Tax rates will be set by your Town Council in May. The Education Tax requisition is set by the Province.
  • Annual Tax Notices will be mailed in June with a payment due date of August 31st.


Customer Review Period: 60 days after date of mailing.
Your opportunity to get your questions answered.

The Customer Review Period is your opportunity to review and ensure the fairness of your market value property assessment (used for current year property tax purposes) and to learn more about how your assessment was determined. Remember, your assessment is the basis on which your property taxes are calculated.

An assessed person is entitled to see or receive sufficient information about that person’s property in accordance with Section 299 of the Municipal Government Act or a summary of an assessment in accordance with Section 300 of the Act, or both.

Reviewing the Assessment for the current year tax purposes means looking at the assessed value displayed on the Notice and being satisfied with the market value of the property given Milk River’s real estate market as of July 1, of the previous tax year.

The Assessment Roll is a listing of the assessed value of all properties within the Town of Milk River for the period shown. The Assessment Roll links below reflect assessed values as of the date of the document.

A copy of the complete Annual Assessment Roll information may be viewed in person at the Town of Milk River Town Office location.
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2013 Assessment Roll
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