Okotoks property owners can expect their 2025 property assessment notice in their mailbox following the January 13 mailing date. The property assessments are based on market conditions as of July 1, 2024, and the physical conditions of the property as of December 31, 2024.
2025 assessment findings
Okotoks is a desirable place to live and work. On average, property values continue to rise due to continued strong home sales, high market prices and increased housing demand in our community.
This year, the average residential assessment increased by 14 per cent; the average non-residential assessment increased by 12 per cent. This means that the average residential single-family property in Okotoks is now assessed at $671,000, an increase from the average 2024 assessment of $603,000. While this is the average, some properties will be assessed above or below this change.
"We want residents to understand that a 14% increase in their property assessment does not equate to a 14% increase in their property tax bill," explained Mayor Thorn. "The impact on your property taxes depends on how the increase in your property's assessed value compares to the changes in value of other properties across town."
“We encourage property owners to take a look at their assessed value from last year and compare it to their assessed value for this year,” said Elaine Vincent, Chief Administrative Officer. “If it's in that 14 per cent range, then you know your home’s value grew just like the market grew. This means your tax increase will be roughly in line with the 2025 tax increase of 4.8 per cent, which was approved by Council."
To understand and compare 2025 assessment to last year’s market value, as well as compare it to similar neighbouring properties, residential property owners can use the free Property Search tool on the Okotoks Virtual Town Hall.
Annual property assessments ensure that each property owner supports both their fair share of municipal property taxes as well as provincial education taxes.
“Approximately 33% of the property taxes you pay for your home are forwarded directly to the Province,” said Mayor Thorn. “That’s a significant portion that the Town collects on behalf of the Province to fund education.”
2025 customer review period
Assessment notices will be mailed January 13, 2025, followed by a review period that ends March 24, 2025. During this time, property owners can review their assessment and discuss any questions or concerns before property taxes are calculated. Any questions or concerns about individual assessments can be directed to an assessor to discuss their assessment during the inquiry period:
- Call: 403-995-6313
- Submit an online inquiry
Property owners who are not satisfied with their assessment after discussing it with an assessor, may file a formal complaint with the Assessment Review Board within the review period. See the reverse side of your notice for more information or visit okotoks.ca/assessment.
Tax Installment Payment Plan
Property owners are encouraged to sign up for the Tax Installment Payment Plan (TIPP), which allows property tax payments to be made monthly, instead of one payment in June. TIPP information and registration is available at Okotoks.ca/TIPP.
Watch the video below to learn more about the relationship between your property assessment and your property taxes:
Important Dates
| Important dates | 2025 assessment & tax key dates |
|---|---|
| July 1, 2024 | Valuation date for 2025 assessment roll based on market conditions |
| Dec. 31, 2024 | Valuation date for physical condition and characteristics of properties |
| Jan. 13, 2025 | 2025 assessment notices mailed |
| Mar. 24, 2025 | Final date to file an assessment complaint |
| March/April, 2025 | Provincial budget released. Provincial requisition of Okotoks’ property tax is set for provincial school tax |
| May 2025 | Okotoks Council approves Property Tax Bylaw |
| June 30, 2025 | 2025 property taxes due |
2025 property assessment process and tax implications
Annual property assessments are regulated by the Alberta government and are prepared annually using mass appraisal techniques, which determine property values by grouping similar properties at a specific point in time.
Assessments do not reflect a single sale price; rather they show typical market value on the common valuation date, July 1, 2024. Through the annual assessment process, tax responsibility is re-distributed among properties based on how their assessed values change relative to other properties in their assessment class.
As a guideline, property taxes will change based on how much an individual property’s value has changed relative to the average change for its property type (residential or non-residential). If a property’s assessed value has increased more than the average, its portion of property tax will be larger than the average. If a property’s assessed value has a similar change to the average or decreases, its portion of property tax will see a similar change or be smaller than the average.
For example, if all properties were to see a 14% assessment increase, everyone’s share of the municipal tax would remain the same as last year. If your home increased in value in line with the average, your property tax increase will be primarily based on the municipal tax increase (4.8 per cent for 2025), as approved by Council late last year. If your assessment increase is higher than the average, then your tax increase will likely be higher. If your assessment change was below the average increase, you likely won’t see as high of a tax increase.
The growth in the tax base includes an increased number of new property owners who are helping pay for the cost of services.
Factors that affect the assessed value of a home can include the home’s size, age, condition and style (i.e. bungalow, bi-level), as well as finishings and special features such as basement development and pools. The lot size and location with respect to amenities like golf courses, lakes, mountain views, and facilities also factor into the assessed value.