MOUNTAIN VIEW COUNTY - Property assessment values in Mountain View County increased in four of five categories in 2024, with an overall increase of $504,555,610 or 8.99 per cent, according to the assessment year end report presented to council at the March 26 council meeting.
Assessments are conducted on properties to reflect the estimated market value of those properties, with the findings used to determine property taxes.
The report included a detailed assessment analysis in five categories: residential; non-residential; machinery and equipment and machinery; farmland; and linear, co-generation and railway.
The residential total assessment increased by 9.8 per cent or $307,660,490, from $3,139,572,750 to $3,447,233,240.
The report includes residential comparisons in seven locations: Water Valley saw an 5.79 per cent increase ($538,360 in 2023 to $569,530), north of Olds a 4.83 per cent increase (from $562,360 to $589,530), south of Carstairs a 2.93 per cent increase ($547,800 to $563,840), and east of Didsbury a 5.43 per cent increase in ($537,230 to $566,400).
As well, east of Sundre a 7.71 per cent increase (from $443,360 to $477,530), east of Elkton a 6.90 increase (from $495,360 to $529,530), and east of Highway 2 an 8.24 per cent increase (from $475,360 to $514,530).
The non-residential total assessment increased by 2.46 per cent or $9,426,910, from $383,126,400 to $392,563,310.
The farmland category saw a decline in 2024, falling by $7,030, from $158,369,970 to $158,362,940.
The machinery and equipment total assessment increased by 7.66 per cent or $43,542,000, from $568,202,080 to $611,744,080.
The linear, co-generation and railway total assessment increased by 10.54 per cent or $143,923,240, from $1,365,506,970 to $1,509,430,210.
Council accepted the report– which is available for viewing on the county’s website – as information with no further action to be taken.
Work is continuing on the preparation of the 2025 tax rate bylaw, which must be passed by April 23.
