Sue Sterkenburg, manager and city assessor, gives a presentation on property tax assessments. (Photo Courtesy Brendan Miller)

By Brendan Miller

Average home property values up by six per cent

Feb 22, 2023 | 2:34 PM

MEDICINE HAT, AB – Property owners can expect to receive their property tax assessments in the mail soon. The annual assessment looks at the overall change in the market value of properties between July 2021 and July 2022.

The assessments will be mailed on Feb. 28.

In Medicine Hat, the median-assessed value of residential properties is up by six per cent. The median-assessed value for both commercial and industrial is up by two per cent.

Manager and city assessor Sue Sterkenburg says it’s important to note that the increase in property market values won’t necessarily impact your property taxes.

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“The assessed value is just assigning a value to your property, as far as the tax amount, that will be determined by council,” said Sterkenburg.

“Council will set the tax rates May 1 so that the tax notices will be ready to be delivered by May 19. Even though there’s an increase in your assessed value it may not necessarily mean an increase in your tax amount,” says Sterkenburg.

Council has set the 2023-23 budget to collect $84 million in tax revenue. Those taxes will be divided amongst all property owners depending on the total base assessed.

Residents can find more details on the city’s assessment map.