Before an assessment can be prepared, property data must be collected. Accurate and complete property records lead to more accurate assessed values. The more accurate the assessed values, the more equitable the entire assessment system is.

Detailed information about each property is gathered by making on-site visits or by corresponding with the owner of the property. Correspondence with a property owner usually occurs when the Assessor is requesting information about commercial, industrial, or rental properties.

Information collected by the assessor in the assessment process is also available from other sources including Alberta Land Titles, real estate Multiple Listing Services, and financial institutions.

An inspection is conducted so that all characteristics of the property that affect the assessment are considered when the Assessor determines the property’s value. All newly constructed properties require an inspection. Likewise, existing properties need to be reviewed from time to time to ensure the information that is used to create the property’s assessment remains accurate.

Property assessment in Alberta is based on a combination of market value and regulated rates. Residential and some non-residential properties are assessed at market value. Farmland, machinery and equipment, and linear properties are assessed using regulated rates determined by the Government of Alberta.

An appraisal is an estimate of value. Properties in Alberta are assessed using a method called mass appraisal. Mass appraisal is the process of valuing a group of properties as of a given date, using common data, mathematical models, and statistical tests. Mass appraisal techniques allow assessors to accurately value a large number of properties in a short period of time.