What is a 'supplementary assessment' in Alberta's property assessment system?
Correct Answer
B) An assessment issued during the tax year to capture the value of new construction or improvements completed after the initial assessment
A supplementary assessment is issued by the municipality during the tax year to capture the assessed value of improvements or new construction that were not included in the annual assessment. This ensures that new improvements are taxed from their completion date rather than waiting until the next annual assessment cycle.
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