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'I just about fell over': Edmonton property assessments soar, puzzling owners

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Edmonton’s property assessments were sent out in early January, leaving some property owners questioning the leap in price of the value of their home.

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“I just about fell over,” said Gord Nyki of his reaction to opening his new property assessment.

The City of Edmonton mailed out property assessments early this month, warning Edmontonians at the time that the values were due to rise. Despite the warning, some have found the value of their homes hasn’t just jumped, but soared, leaving questions about how the value changed so much and concern for the accompanying higher taxes.

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The median assessed property value for a detached single family home in Edmonton is $465,500 for 2025, up more than $35,000 from last year’s median value of $428,500.

Nyki moved to Edmonton from Kelowna in 2021 and was surprised by the increases to his property value, and the accompanying taxes, since moving.

“We just didn’t expect how high the assessments would be and how high the taxes would be,” he said.

The assessed value of Nyki’s home has gone up $80,000 since 2021 without any renovations, leaving him wondering whether he’d ever actually be able to sell his home for the assessed value.

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Properties were assessed in July compared to last year and then finalized in December before being sent out to owners this month. Based on the strong summer housing market, Edmonton Re/Max Elite Realtor Wendy Theberge said residents shouldn’t be surprised by the increase in value.

“In general, the prices have gone up, across the board. So that property tax assessment is a reflection of what’s happening,” said Theberge.

“I think it’s a reflection of this is just the beginning. I think there’s going to be higher assessments coming now.”

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As the city’s housing market continues to heat up, so too will the city’s property assessments.

Although Theberge said the values shouldn’t shock residents, she also noted that the values aren’t necessarily accurate, nor are they indicative of the market value of the home.

“The assessments have always been and will always be all over the map,” said Theberge.

When the city assesses the value of a home, it considers the location, comparable homes, the real estate market, proximity to desirable features like a park or river valley, the square footage, and variety of other elements to come up with the number.

“Mostly, they’re wrong. Almost every time I go out, it’s wrong,” said Theberge, adding that sometimes properties are assessed higher than their value and other times, lower.

Royal LePage NorAlta broker-owner Tom Shearer said when a Realtor does a market assessment, it’s a similar process to the city’s in many ways, with at least one notable difference.

“The difference between what the city does and what the Realtor does is the Realtor actually comes and looks at your home and sees what it’s like on the inside,” said Shearer.

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Shearer explained the city’s assessed value of a home is a consideration when realtors evaluate the market value of a property, but ultimately the market doesn’t align with what the city finds. Homes are rarely sold for their assessed value, he said.

“Everyone’s got a different perspective of what the value of the house is and it’s all subjective, and in a hot market, you probably can get more for your house than the assessed value, and in a buyer’s market, you are probably getting less than your assessed value,” he said.

“It’s important to look at it, evaluate where you’re at and then make sure that you’re happy with the value. And if it’s outrageous, then you should fight it.”

Both Shearer and Theberge said residents concerned about the accuracy of their assessments should speak to realtors, who can also do an assessment to give property owners a comparison.

Appeals must be made to the city by March 19, and cost $50 to file. All property information, including data used to calculate assessed property values and taxes, can be found on the city’s MyProperty site.

Shearer warned “it is a bureaucratic process, so you have to fill in all the lines on the forms.” He likened the forms to applying for a passport, and said depending on the initial response from the city, there are more forms and deadlines that follow.

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In a process that she said is designed to be onerous, Theberge said property owners should weigh the benefits of the appeal process for the tax money they might save.

“If you’re really feeling like this is completely off base — and it’s more a matter of principle than dollars a lot of the time — then do it.”

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