Understanding Your 2006 Assessment
Click here for handy guide to understanding your 2006 assessment. If you have more questions - please call us at 335.3311
Assessment Standards
These criteria are important to the assessment process.
Market Value: 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
Market Growth: The increase in value because of increasing demand for properties – irregardless of whether or not changes have been made. Conversely, reduction in demand for properties can cause a decrease in value and a decrease in assessments.
As the price of building materials increase, the cost of developing new properties can increase. This can raise comparative prices in older properties. As new buyers enter the market, competition for existing real estate can drive up prices and hence, assessments.
Mountain View County’s real estate prices are linked to the economy of the Calgary area and to local regions. In these markets, demand has been very strong in recent years, which has resulted in an increase in Market Values in the County. As well, subdivisions, which have been occurring at a steady rate, have reflected increased property demand in the County.
Real Growth: Growth in assessment based on new construction or improvements to properties and the resulting increased land value when land is subdivided
Assessment Criteria
Residential Assessments: The Replacement Cost Approach and the Sales Comparison Approach to value are used in combination. Land is valued at Market Value. Buildings and other improvements are valued using a combination of depreciated replacement cost and sales comparison
Farm Land: Farm land is valued using a provincial “regulated assessment” base rate which is currently $350 per acre for 100% land. This is decreased for land characteristics that reduce the ability of the land to produce income from farming operations.
Commercial and Industrial: Valued at Market Value. The Replacement Cost Approach and the Income Approach to value are used in combination. The Assessment Department contacts property owners, appraiser and real estate professionals to find market rents in the Count and surrounding areas as a basis for evaluation of income producing properties
Machinery and Equipment: Valued using a provincial “regulated assessment” with an immediate 25% depreciation and a regulated factor of 77%
Linear (Pipelines, oil and gas wells, electricity transmission lines): Assessment values are prepared by the province and submitted to the municipality
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