City Distributes Annual Assessment Notices
Medicine Hat – Property owners can expect to see their assessment in the coming days as notices were mailed out today.
Assessment values provide the basis for property tax allocation. The tax revenue requirement was outlined in the 2019 budget approved by Council on December 17, 2018. Although changes in the assessment roll may lead to a redistribution of the tax burden, total tax collection remains the same.
Overall, the 2019 assessment roll increased by 3.1% over prior year to $8.98 billion representing 1.0 per cent real growth and 2.1% market value growth. The City’s valuation date for the 2019 assessment roll was July 1, 2018 as legislated by the Municipal Government Act.
“We are committed to providing a fair and equitable allocation of taxes to property owners,” said Dennis Egert, General Manager of Finance. “The 2019 assessment roll reflects market values and offers an overall level of stability expected by tax payers.”
Single family homeowners will see a median assessment increase of 1.7 per cent, while non-residential property owners will see a median assessment increase of 2.1 per cent.
“Despite the downturn in the economy elsewhere in the Province, local non-residential market sale values remained relatively strong and non-residential property vacancy rates remained stable. Construction including renovation, expansion and new development continued to grow the tax base,” Egert added.
Assessment notices are mailed separately from tax bills to provide owners an opportunity to ensure the assessment is reasonable prior to the tax billing. Legislation allows property owners 60 days from the assessment notice date to review and discuss any concerns with the City’s Assessment Department.
“It’s important to contact the Assessment Department for an explanation before filing an appeal. And purchasers of property should obtain or confirm the assessment value if the sale occurs during the appeal period,” said Egert.
Property owners and purchasers should review their Assessment Notices before the 60-day appeal period ends as Property Tax Notices cannot be disputed after this date. Property assessment appeals must be received by the Clerk of the Assessment Review Board by May 7, 2019.
City Council sets the annual tax rate in May and property tax notices will be mailed shortly thereafter, with a payment deadline of July 2, 2019.
Additional information can be found on the City website at www.medicinehat.ca or by contacting the Assessment Department at 403.529.8114.
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