Non-Residential Property Assessment and Tax

The City mails out property assessment notices in early January to all property owners within the City of Edmonton – residential properties as well as rental properties, commercial properties and other non-residential properties.

This gives you the opportunity to review your property’s assessed value and get more information if you have questions or concerns about your updated market value assessment.  It also helps you plan ahead for your property tax payment.

This is not a property tax bill. Tax notices will be mailed to property owners in May and you will have until June 30 to pay your taxes without penalty.

Each year the City determines how much of the total budget for programs, services and infrastructure is required from the property tax system. Property assessment is used to determine each property owner’s share of the total property tax revenue requirement of the City.

Assessing the value of non-residential properties

Provincial legislation states that the City must use property value as the basis for the assessment of your property. The legislation requires that property assessments must be updated annually based upon the market value of the property on July 1 of the year prior to the year the assessment is used for tax purposes. Market value is the most probable selling price of the property from a willing seller to a willing buyer as of a specific date.

Non-residential properties are appraised using three different approaches that help determine the market value for assessment purposes. One or more of the following may be used in valuing properties:

  • comparison and analysis of similar properties that have sold – Direct Sales Comparison approach 
  • analysis of the typical rental property income and expenses – Income approach
  • depreciated replacement cost of buildings plus the market value of the land – Cost approach

For more detailed information about how your property assessment was determined, please read the Assessment Brief for your property type (under Concerns With Assessed Value).

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