The assessment department establishes and maintains property valuations (assessments) for all properties within Camrose County to ensure an equitable distribution of taxes. General Camrose County Assessment information is available though our EGov Service, or by contacting our office at 780-672-4446.
What is property assessment?
Property assessment is the process of assigning a dollar value to a property for taxation purposes. In Alberta property is taxed based on the "ad valorem" principle. "Ad valorem" means “According to value". This means that the amount of tax paid is based on the value of the property.
How assessments are prepared
The Municipal Government Act sets out two types of valuation standards to value property for assessment and property taxation purposes in Alberta:
- Market Value based standard
- Regulated procedure based standard
Which are prepared every year using the directions of the Municipal Government Act, and is audited by the Department of Municipal Affairs to ensure province wide equity. Camrose County keeps a five year annual inspection cycle which ensures we maintain accurate and complete property records in order to produce an equitable and accurate assessment. 5 Year Inspection Cycle Map
Market value-based standard
What is market value?
The market value-based standard is used to determine the assessed values for the majority of properties in Alberta. Market value is the price a property might reasonably be expected to sell for if sold by a willing seller to a willing buyer after appropriate time and exposure in an open market.
Key characteristics of market value are:
- It is the most probable price, not the highest, lowest, or average price.
- It is expressed in terms of a dollar value.
- It assumes a transaction between unrelated parties in the open market.
- It assumes a willing buyer and a willing seller, with no advantage being taken by either party.
- It recognizes the present use and potential use of the property.
An appraisal is an estimate of value. Properties in Alberta are assessed using a method called mass appraisal. Mass appraisal is the process of valuing a group of properties as of a given date, using common data, mathematical models, and statistical tests. Mass appraisal techniques allow assessors to accurately value a large number of properties in a short period of time.
Regulated procedure-based standard
Alberta Municipal Affairs prescribes rates and procedures to assess these types of properties, which are referred to as “regulated property”. Rates and procedures are determined by what a type of property is used for, its activity, or its production capability.
There are four types of regulated property:
After the assessed value of a property has been determined, the property is assigned an assessment class. This is an important part of the assessment and taxation process. The assessment class determines the tax rate that will be applied to each property, as assessment classes may have different tax rates. Property is classified according to its actual use. The classes are set out in the Municipal Government Act.
- Class 1 – residential ex. Houses, cottages, garages, acreages & yard sites.
- Class 2 – non-residential ex. Industrial & commercial property.
- Class 3 – farmland ex. land used for producing crops, fish, livestock, poultry, fur production or bee keeping (where an agricultural product is marketed).
- Class 4 – machinery and equipment ex. Oilfield plants, batteries, satellites, and equipment used for processing and manufacturing.
There is also the Class of Linear, which includes: wells, flowlines, pipelines, powerlines, and electrical and power generating equipment.
Valuation and condition dates
In Alberta, there are two key legislated dates by which certain assessment processes must be complete—the valuation date and condition date.
The valuation date is a fixed point in time at which assessment values are based. The valuation date ensures that all properties in a municipality are valued as of the same date. The valuation date set by the Municipal Government Act is July 1. For example, for the 2014 tax year, the valuation date for property assessment is July 1, 2013.
The second legislated date in the valuation process is the condition date. The condition date is the date on which the condition of the property is recorded for property assessment purposes. Under Alberta legislation, the condition date for property other than linear property is December 31.
If you have any questions regarding assessment please contact the County Assessment Department:
(780) 672-4446 (phone)
(780) 672-1008 (fax)