Assessment Information
The change in your 2024 Assessment is due to one or more of the following reasons:
- The General Assessment
- A physical and/or a legal (i.e. subdivision) change to your property
- A change in your property use/exemptions
What is a “General Assessment”?
A general assessment is a process of updating all property assessments from 2023 Market Values to 2024 Market Values. An assessment is a value placed on your land and buildings to determine the fair distribution of property taxes. The degree to which your assessment has changed may also directly impact your 2025 taxes.
What if my property changed from last year?
If your assessment record has changed (i.e.: a new building/renovation, new subdivision, a change in use, etc.), the change will be recognized in this Tax Notice.
What do these changes mean to me?
Your 2024 Assessment has a relationship with the 2024 Market Value of your property (excepting vacant agricultural property). When a market value study confirms an area has incurred a market value increase, this is reflected in the assessment. There has been a small overall market value increase across most of Smoky Lake County. Physical changes which occur on a property that result in an increased market value will also be reflected in the 2024 Assessment.
How are Property Taxes Calculated?
Assessment x Tax Rate /1000 = Taxes Charged
The total tax rate is derived by adding the Municipal, School, and Foundation rates. Smoky Lake County establishes the Municipal tax rate. The Smoky Lake Foundation establishes the Foundation tax rate and the Provincial Government establishes the school tax rate.
The direction of change and degree of change of the tax rate in a given year, combined with the possible assessment changes described above and the new tax rate can result in varying changes in taxes depending on the specific details of the parcel of land in question.
How do I get further information?
If you have questions, please contact the Smoky Lake County Tax Department by phoning 780-656-3730