Edmonton mails out 2025 property assessment notices ahead of tax season
Posted January 13, 2025 6:21 pm.
Last Updated January 13, 2025 7:31 pm.
Edmonton’s Virginia Park neighbourhood, is one of the areas the City says, saw the biggest decrease in property value.
That, according to assessments sent out Friday, giving homeowners a hint at what they could pay in property taxes.
“It is a little sad, but I am optimistic that things will get better as time goes on. It’s kind of one of those things that fluctuate quite often, but I’m excited to see what will happen,” said Coby, whose parents live in Virginia Park.
While property assessments in Virginia Park are down generally, the City says, generally, this goes against the trend, seeing a rise in tax assessment for residential units across Edmonton, meaning, that while your property’s estimated tax value is higher, you could see a bigger increase in municipal taxes.
“It is hard, I think, for any family in Edmonton, and for me too. I have two kids, and of course, it hurts,” said Ana, whose property taxes are increasing.
North of downtown, central McDougall is seeing the biggest spike of almost 17 per cent.
Not surprising for one local resident who has seen his neighbourhood change.
“They’re trying to revitalize the area. It’s nice. Like, you see some of the buildings around here, they’re nice and pretty new. They’re only a couple of years old,” explained Chance, whose property taxes are also increasing.
However, he’s concerned about what his taxes will look like with a higher assessment and the 6.1 per cent property tax increase approved by city council.
“How much I’m going to be paying ver this year, is it going to go up next year? Then, is it going to jump again? It’s a little much.”
The City says while the value of homes is up, non-residential values decreased with downtown office spaces seeing the biggest dip, driven by the work-from-home model movement.
“Generally, the office space that we have is just not being used as much as it was prior to the pandemic. Hybrid work looks like it’s here, at least for now, so that demand has been reduced significantly,” explained Cate Watt, the branch manager of assessment and taxation for the City of Edmonton.
Homeowners can dispute their assessment if they think it is too high or low.
City council will finalize the budget in April, confirming the total of property taxes required.
You can expect that notice in your mailbox this May.