Today’s question is what is the city’s assessment value and why is my assessment value different than the purchase price I just paid for my home the assessed value is?
The city of Edmonton has the market value of your property and helps them determine how much taxes you will be responsible for paying for that year plus the market. Such a volatile change week to week, month to month you gotta keep in mind they use July 1 as a cut off so last year July 1. Plus they use a max appraisal approach. That is one of the reasons why your Property Assessment value might be different than the purchase price you just paid for your home.
