Airdrie homeowners will get a look at how much the City of Airdrie says your home is worth when your assessment notice arrives later this week.  

The assessments were put in the mail today (January 14) and the Assessor for the City of Airdrie Valeri Cottreau explains just what you'll be getting when they arrive.

"It's an estimated value based on economic conditions as of July 1st, 2018 and physical condition as of December 31st of last year as well.  So it's an estimated value based on that date of July 1st."

Overall, many homes will see a marginal decreased in assessed value.  A persistent oversupply of homes for sale in Airdrie has caused a slight decrease in residential property assessments, however, home prices have remained relatively stable.  The non-residential market remains consistent with a slight increase to rental rates.  

Cottreau says "Despite the decrease in assessed values, homes are still holding their value, they may, however, spend longer on the market."

Cottreau explains that when you get your assessment you should go on the assessment page of the city's website and check the details that the city has online.

"Because that is the information that we have on their account.  They can also create a "My Airdrie" account using the web code that's on their assessment notice.  We have all of the details on your property broken down by square footage.  So, for example, the square footage that we have on your basement finish or your garage and we encourage people to double check it and just make sure it's correct."

Once you've done that, you have 60 days from the assessment date (January 22nd) to review your assessment.  During that time, if you have any concerns, you can call the city to discuss your value or if need be, the city can come and do an inspection of your home.  Cottreau says they're confident that the majority of assessments will be accurate.

"First of all, the value is historic, so it is based on July 1st, 2018 so by the time you receive your assessment notice that value is historic.  We have a lot of tools on our website.  We also provide all of the sales that were used in our analysis, they're all available online.  You can also give us a call to review the details and we may end up setting up an inspection appointment from there."

Homeowners won't know how much they'll have to pay in taxes until the tax bylaw for this year goes to council in May.  Your home value only makes up a portion of your taxes, according to Cottreau who say, "Part of your tax bill is also your school taxes, so that's the school requisition that's handed down by the province.  We actually don't get provided with that information until around the middle of April."

Tax notices will be mailed at the end of May and are due at the end of June.

Basic information on all city properties and overall assessment changes by property type and neighbourhood can be found on airdrie.ca/airdriemap. 

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