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Understanding Assessment

What is an Assessment Notice?

Assessment notices are mailed in March each year to the property owner on record. The amount on your Assessment Notice should be within 5% of the current market value of your property. In other words, if you were to sell your property today, the assessed value should be comparable to what you would expect to receive.

Your Town of Hanna assessment notice shows the assessed value of your land and buildings as they existed on December 31 the prior year.  The assessment is based on July 31 market value of the prior year.

In Hanna, your property assessment has been calculated using mass appraisal techniques.  The assessment value of each property considers characteristics such as building and lot size, structure type, condition and age.  Typically, residential property values are determined through the direct sales comparison approach.  Non-Residential property values are determined using the income approach to value in conjunction with the direct sales comparison approach.  Special properties, such as schools and churches, are valued using the cost approach.  Similar properties in Hanna should have similar assessment values.

The purpose of the assessment is not to reflect single sales prices, but to assess all properties at typical market value on the same date, so that taxation is fairly shared.  The Town of Hanna utilizes a qualified Assessor who assesses property based on provincial legislation and regulations.  This Assessor acts on behalf of Hanna’s citizens and is dedicated to providing high quality assessments and excellent customer service to the taxpayers.

What is Property Assessment?

Property assessment is the process of assigning a dollar value to a property for taxation purposes. In Alberta, property is taxed based on the ad valorem principle. Ad valorem means according to value.  This means that the amount of tax paid is based on the market value of the property.  The market value assessment placed on your property is determined through the analysis of the real estate market to determine the market value as of July 1 of the year prior to taxation.

What is Property Taxation?

Property taxes are a primary source of revenue for municipalities. Property taxes are used to finance local programs and services, such as:

  • Streets Roads & Airport Maintenance
  • Recreation & Parks Programs and Facilities
  • Library and Leisure Programs
  • Water and Sewer Services
  • Fire Protection and Bylaw Enforcement

What is the Difference?

Too often, the terms assessment and taxation are considered to be interchangeable. However, assessment and taxation are very different.  Although one impacts the other, each is a distinct and independent process.  Assessment is the process of placing a dollar value on a property for taxation purposes.  This value is used to calculate the amount of taxes that will be charged to the owner of the property. Taxation is the process of applying a tax rate to a property’s assessed value to determine the taxes payable by the owner of that property.

The Town of Hanna is responsible for ensuring that each property owner pays his or her share of taxes. Property assessment is the method used by municipalities to distribute the tax burden among property owners in a municipality.

Tax Information Access

Under the Freedom of Information & Protection of Privacy Act, property owners have unlimited access to their own property information, including assessments and tax information.  The Assessment Roll is public information and is available for viewing from the Property Search section of this website.  We do not give out personal or tax information over the phone.

Tax Certificates

The following information is found on a tax certificate:

  • Roll Number,
  • Legal address,
  • Civic address,
  • Tax levy for the year and,
  • Taxes owing, if any.

There is a fee for this service and tax certificate requests must be received in writing.

Hanna Tax Notice

The notice contains Tax and assessment information.  Please note the due date for payment of taxes.  If your taxes are not paid by the due date a 8% penalty is applied September 1st and October 1st.  If you have sold the property, please return the tax notice to the Town Office so that records can be amended.

FAQ's 

Why did my assessment change?

Assessments are conducted annually to ensure that recent market fluctuations are reflected in the assessed value of your property.

How do I view assessments online?
What is market value?

The most probable price that a property might sell for on the open market as of a given date.  This assumes the property is to be sold by a willing seller to a willing buyer.

OR

The amount obtainable in terms of what the property can be sold for on the open market.

What affects the market value of my house?
  • Total finished living area both above and below grade.
  • Quality of structure
  • Age of structure
  • Modernization
  • Building and Structure type (ie: duplex, single family, bungalow, two-storey, etc)
  • Existence, type and size of garage.
  • Lot size and property location within the community
What is an average assessment in Hanna?

Annually approximately 1,190 residential properties are assessed.  The value of these properties combined for 2018 is $175,500,000 a reduction of $7,500,000 from the previous year.  The average assessment for a home for 2018 is $147,000 which is reduced from $153,800 the previous year.