![]() ![]() For example, July 1, 2021, is the valuation date for the 2022 tax year. Market Value -This is defined by the MGA Section 1(n) as “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.” The market value date is established as of July 1, the year preceding the tax year.Assessed values are based on establishing either a market or regulated value. The purpose of assessment is to fairly and equitably establish values allowing for the fair distribution of the property tax burden. ![]() Assessment is the evaluation of assessable properties on an annual basis with adherence to the Alberta Statute, Municipal Government Act (MGA), and associated regulations. ![]()
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