A property assessment is an estimate of a property's market value. The assessed value of your property is the basis for municipal taxes, as well as provincial education taxes and the Cypress View Foundation levy.
In Alberta, the property assessment system is based on the regulations within the Municipal Government Act to ensure a fair and defensible system that supports an equitable distribution of municipal taxes.
Property assessments in the City of Medicine Hat are based on the market value of each property as of July 1 the previous year, and the condition of the property as of December 31 of the previous year.
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Assessments are prepared solely for municipal taxation purposes and should not be used as an appraisal.
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How is property assessed?
The assessment of all properties located within the City of Medicine Hat (residential, non-residential and multi-family) is calculated on the basis of market value. These assessments are then used to distribute the total tax levy amongst all properties.
Property values may increase or decrease over time. To be fair and equitable and to comply with provincial legislation, all properties must be reassessed annually. As a property owner, you are entitled to compare your assessment, make an inquiry, and even appeal your assessment.
Property valuation
To meet the Provincial Government audit guidelines, and to assist in calculating the valuation of all property, Assessment must update recorded property information at least once every five years.
One of the main methods currently used to update our records is periodic on-site inspections. Using this method requires over 5,000 inspections each year. To ensure that the most accurate inventory data is collected and recorded, we appreciate your cooperation with an assessor who may visit your property.