City homeowners will receive their property assessment notice in the mail in the coming days, the city reports. On Monday, more than 300,000 notices were mailed out informing homeowners the assessed value of their property.
The city stresses that the assessment notices are not tax notices, but simply used to determine each owner's share of property taxes.
Rod Risling, the city's branch manager says assessment notices for homeowners have been sent out separately from the tax notice.
Homeowners can expect the final tax bill in May after the provincial education tax is determined.
In early Dec., residents discovered that they will be hit with a five-per-cent tax increase as city council passed the 2010 budget.
The hike included extra funding for city services including Edmonton police, and fixing up Edmonton's neighbourhoods.
The typical Edmonton house assessed at $361,500 can expect to see a tax increase of about $70 for 2010. Homeowners will also notice an annual increase of about $68 in fees for sewer and garbage service.
Last year, property values dropped by 10 per cent across Edmonton. Neighbourhoods that had small decreases in 2009 are now seeing larger drops in 2010.
"What we are seeing is the market is starting to correct itself," said Risling. "The values are stabilizing and the range as far as values between neighbourhoods is decreasing."
In 2008, there was a 40 per cent swing in property values between communities, but this year, the range is closer to 20 per cent.
Neighbourhoods such as Westbrook Estates, Cloverdale, Griesbach, Chambery, and Gold Bar, will see single-digit property value decreases this year. But that also means they will see a property tax hike larger than other areas of Edmonton.
Risling says if homeowners have questions or concerns about their property's assessed value, they should call the city and ask to speak to a city assessor.
"Many issues can be dealt with quickly, without having to file an appeal," said Risling.
To reach the city, call 780-496-6388.
With files from Rob McAnally
