Lisa Last talks with Warren Powers from Powers and Associates.
Powers & Associates Appraisal Services Inc. is a Residential Appraisal & Assessment (Mass Appraisal) Firm located in Beaumont & Leduc, Alberta Canada.
They are licensed and recognized in the real estate appraisal industry, providing residential appraisal services and property tax consultation to their clients. They are committed to providing fast and friendly service by offering what matters most to their clients: Professional, accurate, reliable and timely service.
Lisa and Warren talk about Property Tax Assessments, where the data comes from, why the numbers lag, and why it’s important to look over your assessment.
- [0:30] When you do an assessment, where do you get your data?
- The assessment is based on the Legislation Assessment date of July 1 preceding taxation.
- A Mass Appraisal is a statistical overview of market value.
- The evaluation date is 1 year old.
- The market modified cost approach is when a property is calculated using local cost figures.
- [3:00] So my taxes change every year because of market conditions?
- The numbers are calculated with the last 2-3 years of data to try to avoid large spikes and dips in value.
- But it lags. This causes your assessment to be higher than market value.
- [5:25] If someone thinks their assessment is too high or low, who do they contact?
- The city of Edmonton, and Ledu. They have in-house assessors.
- Alternatively, you can visit their websites and get a wealth of data about your property and neighbourhood.
- [8:35] You should always check your assessment to make sure everything is correct.
- You have 60 days to request your information and review it.
- If you have an issue, you can file a complaint or talk directly with the assessor.
Contact Warren Powers