Tax assessments are completed annually, prior to the tax notices being sent out for Property Taxes. Once the assessments are sent out, the assessment roll is open for viewing by the ratepayers at the County of Stettler Administration Building.
Market or Commercial Land
If a parcel of land is less than one acre, then all the land is assessed at market land values. The market land values are established by the sales that have occurred in the past 3-years.
Farmland property is assessed on the basis of productivity. The productive value of farmland is determined using a set process. This process sets a value for the best soils and then makes adjustments for less-than optimal conditions such as: stones, the presence of sloughs, or topography not conductive to farming practices.
The first three acres of a farm parcel with a residence is assessed at market value - as if it were a subdivided parcel. This is shown as the residential category on your Notice. The residence and buildings used for non-farm use are assessed at market value, as of July 1 of the year preceding the tax year. Farm buildings are exempt from assessment in rural municipalities, to the extent they are used for farming purposes. In urban municipalities, farm buildings are assessed and then exempted from property tax to a level of 50% from both municipal and provincial education tax.
The remainder of the land is assessed on the ability of the land to produce agricultural products. The assessment takes factors such as soil quality, topography, stones, creeks, etc. into consideration. The Farmland Assessment Manual was utilized in preparing farmland assessments.
The Rural Assessment Policy applies the amount of agricultural valued land assessment in the owner's unit as an exemption towards the residence (maximum for principal residence is $61,540 and for secondary residence is $30,770).