Property assessment appeal deadline near

Okotoks homeowners have a week left to appeal their property assessments for this year’s taxes.

People have until midnight on March 17 to appeal their property assessment.

Property assessments were mailed out on Jan. 16. Homeowners had a 60-day inquiry period to contact the Town to ask questions or seek clarification about their property assessment

Assessor Carmel Staley said the number of calls to the Town are down considerably in 2017, with 78 as of March 6.

“We only have two weeks left, last year we received over 350,” she said. “We’re nowhere near that.”

She said the drop in calls reflects a decrease in assessment values in Okotoks.

The typical assessment for a single detached home in Okotoks is $439,000. The typical assessment is down year-over-year by three per cent. She said the typical assessment for condominiums is $211,000.

Commercial assessments were largely flat, she said.

Those who end up in front of the Assessment Review Board could expect to have their appeals heard in June or July.

She said she started to see a decrease at the beginning of 2016 and the assessments reflect that downward trend.

The assessments are based on July 1, 2016. Assessors analyzed homes sales across the community prior to that date to determine the values.

“We’re just an estimate of market value, we are not site specific and we value in a mass appraisal process,” she said. “So, we value groups of properties and averaging out.”

She acknowledged assessments can lag behind current market values because they are based on historical data. As such, she anticipates either a flat or downward trend for assessments one year from now.

Tax notices will go out in May and taxes are due June 30.