ASSESSMENT

+ What are the key factors that affect my property’s value?

Your property’s value is dependent on a number of factors, including:

  • Style of home
  • Size of home
  • Size of lot
  • Age
  • Basement finish
  • Quality of construction
  • Condition
  • Location
  • Special features (air conditioning, fire place, pool, etc.)

+ Why is my property assessment different every year?

The City of Lloydminster is required to reassess all properties annually. Your current assessment is based on the market value calculation as of July 1 of the previous year.

+ I just purchased my property. Why is the property assessment higher than the price I paid?

The Government of Alberta legislates that the City of Lloydminster must assess all property within the City every year using a mass appraisal approach. The assessed value of your property as indicated in your latest assessment notice is an estimate of your property’s market value on July 1 of the previous year. To establish an assessed value of your property, the City uses information on real estate sales that occurred up to and including last July 1 and information on any physical changes recorded up to last December 31. Real estate market may, and often does, change between the time the City determines assessment values and the time you purchase your property. Depending on the time of the year you purchased your property, the sale price could be either higher or lower than the assessment.

+ Why am I receiving my assessment notice in February?

Receiving your assessment notice at the beginning of the year gives you the opportunity to review your property’s assessed value.

+ What should I do if I have not received my assessment notice?

The City starts mailing assessment notices to all property owners in February. If you have not received your notice by the end of February, please call City of Lloydminster Tax Department and we will have another notice issued.

+ I do not live in the property I own. Can you mail my assessment notice to a different address?

Yes. Please fill out the Change of Mailing Address form, at the Finance Cashier’s desk or Send an email to taxes@lloydminster.ca.

+ How do I arrange for a re-inspection of my property to ensure that the information used to calculate my assessment is correct?

The assessor can be reached by filling out an inquiry form with the City of Lloydminster Tax Department. The assessor may request to inspect the property to determine if an error was made. If the assessor agrees the original notice is not accurate, a corrected notice may be issued.

+ Why is my property assessed as being complete, when the building is unfinished?

The annual assessment notice reflects the condition of your property as of December 31 of last year. If your property was mistakenly assessed as being 100 per cent complete as of December 31, contact us to have this information reviewed and corrected if warranted.

+ My home was still under construction at the end of last year. How are these types of properties assessed?

Annual property assessment notices reflect the status and physical condition of property (what structures and finish the building had) as of December 31 of the year prior to the taxation year. If your property was only partially complete as of December 31, your assessment notice will reflect the value of the land plus the value of the building, based on its completion percentage. The City will issue a supplementary property assessment notice that will indicate the amount your property assessment has increased as a result of new construction. Your supplementary assessment notice will also show the number of supplementary months (months your property was completed or occupied). Your supplementary property tax notice will indicate the additional amount of property taxes you are required to pay this taxation year.

+ My property has a building on it. Why does my property assessment show my property as vacant?

The property assessment reflects the physical characteristics and attributes of your property as of December 31 of the previous year. If the building was added after this date, the assessment records show the property as vacant. If your property was only partially complete as of December 31, your assessment notice will reflect the value of the land plus the value of the building, based on its completion percentage.
The City will issue a supplementary assessment notice that will reflect the value of newly completed construction. The addition of the building will be reflected on next year’s property assessment notice.

+ My neighbour’s property has been renovated. Why is his assessment similar to mine?

Please contact us. Any information such as this, provided by a third party, will have to be verified by the City’s contracted assessor. A site inspection of the subject property, as well as others in the area will be conducted to ensure that the correct data have been used to determine the assessed values.


PROPERTY TAXES

+ How does property assessment correlate to property taxes?

To ensure all Lloydminster property owners pay their fair share of municipal and Provincial Education property taxes, the City of Lloydminster uses a property assessment process as legislated by the provincial government. Your current assessment notice indicates your property’s market value estimate based on mass appraisal methods on July 1 of the previous year. All properties are assessed using similar factors that real estate agents and appraisers use when pricing a home for sale. This market value is then used to calculate the amount of taxes you pay in proportion to the value of the real estate you own.

+ My property assessment decreased. Will my taxes decrease?

Your property tax is made up of two components: your assessment value and the municipal mill rate. The municipal mill rate is set by Council, therefore a decrease in your assessment value may result in a tax decrease only if the municipal mill rate remains the same or decreases. If the assessment decreased but the mill rate increased by a greater proportion, then taxes would, in fact, increase.


AGENT/REPRESENTATIVE AUTHORIZATION

+ When am I required to submit the property owner representative authorization?

The City of Lloydminster is legislated to release property information only to property owners. If you would like a representative to contact the City about your property’s assessment on your behalf, you must appoint a property owner representative (agent) by submitting the City’s agent/representative authorization form. This authorization is legally binding only for one year.

+ Who is allowed to have full access to property information?

According to legislation, the City of Lloydminster can release property information to a property owner or a property owner representative (agent) appointed directly by the property owner. In the assessment context, property owners can appoint any other person they want as an agent, including an employee, husband, wife or child. It is impossible for a municipality to agree to anything about the assessment with a party that is not the property owner or his/her duly appointed agent. Therefore, any discussion about attempting to correct an assessment on a residential property cannot be completed without the involvement of the property owner or their agent. This authorization is legally binding only for one year.

+ Can I delegate my spouse to deal with the City about our assessment?

Yes. The agent/representative authorization process applies to all “types” of property owners, including residential property owners. For example, if the wife is the title holder, she still must appoint her husband to act as an agent on her behalf even if he lives on the property. This authorization is legally binding only for one year.

+ Can I delegate my employee to deal with issues regarding my property’s assessment?

Yes. The agent/representative authorization process applies to all types of property owners, including non-residential and commercial property owners. For example, corporations can appoint employees or property management companies to deal with any issues relating to property assessment. This authorization is legally binding only for one year.

+ How long does it take for the City to process the authorization?

Authorization forms are usually validated within 3-5 business days.