Assessment
Update
Wondering what the Assessment team does? Check our update to Council (Oct 13, 2020)
Annual process
Annual assessment notices will be mailed January 20, 2020. The assessed value reflects the value of your property based on economic conditions as of July 1 and physical condition of December 31 of the previous year. The assessment value, which is calculated annually, is used to distribute property taxes fairly and equitably.
Access your information
Information regarding your assessment and property details is available online by clicking on the link below and searching for your property by the roll number or address located on your assessment notice.
Reviewing your assessment
Review notice to ensure:
- Your name, address and school support are correct
- The property classification (residential, farmland, and non-residential)
Next, compare the assessment on your notice to the typical market value of your property as of July 1 of the previous year, not current market conditions. Then you should compare your assessment to the assessments of similar properties in size, age, quality, condition and location.
Once you have compared your new assessment to its previous year’s market value and to the assessments of similar neighbouring properties, and if you have questions or concerns about your assessment, email the Assessment Department or call 403-851-2950.
If you are not satisfied with your assessment after discussing it with an assessor, you may file a formal complaint with the assessment review board and have them review your assessment. A formal complaint can only be submitted within the 60-day customer review period.
The customer review period is 60 days from the Notice of Assessment Date. Changes to your assessment will only be considered if an inquiry is received during this legislated time frame.
Market value assessments
Market value, as defined in the Municipal Government Act 1(n), means the amount that a property might be expected to realize if it is sold on the open market by a willing seller to a willing buyer. Market value assessments are done using mass appraisal techniques, which determine property values by grouping similar properties as of a specific date.
The purpose of assessment is not to reflect a single sale price, but to assess all properties at typical market value on the same valuation date, so that taxation is fairly and uniformly shared. The Town of Cochrane employs qualified assessors who assess properties based on provincial legislation and regulations.
Assessment value factors
Assessors consider many of the same factors that a home owner does when they choose to purchase a home. Some of the factors that determine the value of your home include:
- Style of house
- Square footage
- Lot size
- Basement finish
- Walkout
- Year of construction
- Overall quality
- Location
Unique location influences, like the mountain views and river valleys result in overall higher market values compared to other neighborhoods or properties. Furthermore, influencing factors such as traffic, train or commercial may result in lower market rates.
Residential property inspections
If we require more information about your property during the re-inspection period (May-Aug), you can provide it here: Residential Property Verification Form
Maps/Shift Report:
- 2020 Residential Assessment Shift Report
- 2020 Percent Changes: Condos
- 2020 Percent Changes: Duplexes and Row Houses
- 2020 Percent Changes: Single-Family Residential
- 2020 Annual Roll Book
Important 2020 Dates
| Date | Item |
|---|---|
| January 20 | Assessment Notices Mailed |
| January 28 | Notice of Assessment Date |
| January 28 - March 30 | 60 day review period |
| March 30 | Final date to file a complaint |
| June 22 | Property tax bills mailed |
| September 30 | Property tax payments due |
Supplementary assessment
If you recently bought a new home or made improvements to your property, you may receive a supplementary assessment / tax notice in November. Find more information on supplementary notices online.
Additional information
- Property assessments are sent to property owners in January each year; property tax bills are sent later in June.
- After assessment notices are mailed, you have 60 days to review and ensure its accuracy.