Edmonton has mailed out property assessment notices, giving homeowners a preview of potential tax changes for 2025
In Virginia Park, property values have dropped, which is a bit of a bummer. Coby, whose parents live there, is hopeful things will improve. He knows property values can change a lot over time.
While Virginia Park is seeing a decrease, most areas in Edmonton are experiencing a rise in property assessments. This means higher estimated tax values, which could lead to increased municipal taxes.
Ana, a local mom, feels the pinch too. With two kids, rising property taxes are tough to handle.
Meanwhile, McDougall, just north of downtown, is seeing a nearly 17% increase in property values. Chance, a resident there, has noticed the neighborhood getting a facelift. New buildings are popping up, but he’s worried about how much his taxes will go up with the new assessments and the 6.1% tax increase approved by the city.
Cate Watt, who manages assessments for the city, pointed out that while home values are up, non-residential properties, especially downtown offices, have taken a hit. The shift to remote work has really changed the demand for office space.
If homeowners think their assessments are off, they can challenge them. The city council will finalize the budget in April, so homeowners can expect to see their tax notices in May.
