Notice Re: 2025 Property Assessments

Recently, Saddle Hills County changed how they provide assessment services, switching from in-house assessors to external assessor, Aaron Steblyk and his team at Compass Assessment Consultants Inc.

As part of this transition, some changes had to be made to the way in which assessment values were calculated for 2025, in order to align with provincial regulations and assessment best practices. This change will cause varying impacts on landowner’s property assessments.

Assessment values were calculated to the lowest legislated threshold to limit the impact as much as possible. Although in some cases this may be a large increase, it is not expected that these figures will fluctuate to this degree in coming years.

What does this mean for you?

This change in assessment has caused varying impacts in landowner’s property assessments. Some Saddle Hills County ratepayers may see in an increase in their assessment for this year, while others may see a decrease or even no change at all. Those who experience an increase or decrease in assessed property valuation may, in turn, see an effect on their property taxes for 2025.

In order to limit any adverse effects this may have on individuals and businesses in Saddle Hills County, Council has amended the Tax Rate Bylaw for 2025. This will see the rate for Residential Properties decrease from 4.00000 to 3.500000, the rate for Small Businesses decreased from 10.45965 to 10.125000, and the rate for Farmland Properties increased from 10.45965 to 13.500000.

The increase in the tax rate for farmland properties is to account for the greater current market value of farmland properties and low assessment values compared to residential properties in Saddle Hills County.

How was my property value assessed?

Assessment is heavily legislated. This legislation directs assessors to determine property values using market-value. This assessment value is an estimate of what your property would sell for on the open real-estate market. Each property was assessed based on its land, improvements, recent sales transactions, and market trends. As assessments are completed annually, valuations react to market trends at the time properties are assessed. This allows for assessment to be more stable year-over-year and creates a reliable assessment base for the municipality so that moving forward, rates remain stable.

Assessment values for 2025, reflect market conditions as of July 1, 2024. This means that landowners who have seen an increase in their assessment may have also seen an increase in the value of their property on the open market. Should you choose to sell your property on the current market, you are likely to see a higher resale value giving you a greater return on your investment.

How does my assessment affect my property taxes?

Taxes and Assessment although related, are often confused.

'Assessment' is the process of assigning a dollar value to a property. This value is then used to calculate the amount of taxes owed. This value is calculated annually.

'Taxation' is the process of applying a tax rate to a property's assessed value. This determines the taxes payable. Tax rates are determined by council annually and available in the current Tax Rates Bylaw. The tax rate is also known as the ‘Mill Rate’.

Property Assessment x Tax Rate (Mill Rate) = Taxes Payable

Council then approves an annual budget to operate the municipality, and the revenue required is divided by the municipality’s assessment base.

What’s next?

Saddle Hills County is working closely with Compass Assessment Consultants Inc. and the re-inspection process has already begun, with physical re-inspections beginning late this Spring. This means that the assessors are already reviewing the information digitally and preparing to physically inspect properties, which includes re-measuring buildings, taking new photos, and verifying information with property owners. 

Once the combined property tax and assessment notice is issued, you have 60-days, from the notice of assessment date, to file an assessment complaint. If you feel an error was made on your assessment, we encourage you to reach out to Compass Assessment to review any concerns. If you are not satisfied with the assessor’s response you may file a written complaint to the Assessment Review Board. You can find more information on this on our website, at saddlehills.ab.ca/Assessment.

Should you have any questions or concerns about your assessment, please reach out to Compass Assessment, at (780) 469-5552 or info@compassac.ca