(rdnewsNOW file photo)

By rdnewsNOW staff

2024 values

Red Deer property assessment notices in the mail

Jan 9, 2025 | 12:04 PM

Red Deer property owners will receive their 2025 property assessment notices in the mail soon.

City of Red Deer said residents can expect them, “over the next few days” and explained this year’s total vlaue of the assessment is at $20.8 billion, which is an increase of $1.5 billion from last year.

“Overall, Red Deer’s residential values exhibited robust growth year-over-year due to heightened sales and strong market demand,” said Maureen Cleary, City Assessor in a media release.

“Our housing market remains resilient, with solid sales indicating ongoing real estate market confidence throughout the city. Notably, the strongest property value changes are within attached and semi-detached residential housing, reflecting the appealing affordability and demand in these sectors.”

The City said the yearly re-assessment revealed an upward trend in property values and on average, residential property market values increased by 9.95 per cent from 2024.

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In addition, multi-family properties had an average increase of 5.21 per cent and non-residential property values went up 2.86 per cent.

The 2025 property assessment values the City said, is a reflection of the property’s market value as of the legislated valuation date of July 1, 2024 and its physical condition as of Dec. 31, 2024.

Any fluctuations in the real estate market or changes to property conditions after these dates will be considered in the next assessment year.

“As a municipality, we are dedicated to delivering fair and equitable assessments,” Cleary added. “We encourage property owners to engage with our Assessment Services team regarding any questions or concerns they may have. Our qualified assessors are readily available and can often resolve issues swiftly over the phone.”

Questions about property assessments can be directed to Assessment staff at 403-342-8235 or via email at Assessment@RedDeer.ca. A customer review period is in place until March 18, 2025, after which assessment values will be finalized. These values are then used to calculate property taxes.