Under Alberta's property assessment system, when are property assessments typically conducted and how often?
Correct Answer
A) Annually, using the prior year's July 1st market value
Municipal Government Act s. 285 requires each municipality to prepare an assessment for each property every year. Under the Matters Relating to Assessment and Taxation Regulation, 2018, s. 6, the assessment estimates value as of July 1 of the assessment year, which is the year before the taxation year, and the property's condition is taken as of December 31 of that year (MGA s. 289(2)).
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