Valuing Property

Assessors complete on site and other inspections of properties when needed. For example, a physical inspection would be done to verify information if your property is under construction.

Related Topics How We Value Why Market Value? Types of Assessment     Business Occupancy

Your assessment is determined by experienced assessors who are trained to value all types of real estate. The data they collect comes from a variety of sources. Provincial assessors review sales in your neighborhood and have access to building permits issued by the municipality. You are required to take out these building permits to make significant improvements to your property. Assessors complete on site and other inspections of properties when needed. For example, a physical inspection would be done to verify information if your property is under construction.

Data is maintained on data bases that enable staff to analyze sales and identify trends and common units of comparison. Land and buildings are assessed. Statistics are applied to identify market conditions. Staff look at changing costs in construction and renovation to identify how much it would cost to build your house, make allowances for depreciation, and modify the value to reflect market conditions as of a specific date. This process of valuing properties provides consistency between your property assessment, market conditions and those of other properties in similar neighborhoods. We have an accurate picture of what your property looks like. Our data base has information on your lot, construction detail and features such as fireplaces, basements, garages, number of bedrooms and baths.

We are working harder and smarter to give you the latest, most accurate picture of what your property is worth. Your assessment notice should reflect a realistic price that you would have received for your home if you had put it on the market on the same date at which your assessment is based.

We want to deliver the most accurate assessment by updating our assessment records and values every year to reflect current market trends. We would like to hear from you if you do not think your property is a reasonable estimate of market value as of the date of the assessment.