What is Property Assessment?
Property assessment is the estimated value of a property used for Municipal and Provincial taxation purposes. The County of Forty Mile No. 8 assessor estimates the market value of your property for the purpose of distributing fair and equitable taxation. Calculating this estimate is governed by the Municipal Government Act of the Province of Alberta and related regulations. The estimated value placed on your property comes from the measurement, analysis and interpretation of the real estate market. The Provincial Government performs an annual audit of the relationship between the assessed value and the market value and the assessor is required to meet Provincial audit standards.