Assessment

Assessment

Property Assessment is the process of establishing a market value of property for property tax purposes.

The assessed value of property, for tax purposes, must be accurate so the tax burden will be distributed fairly. In the City of St. John’s, property assessments for the purposes of determining your property tax are conducted by the City’s Assessment Division.

The work of our skilled and experienced assessment team is governed by the Assessment Act. With over 50,000 properties to assess in a two year assessment cycle, our team uses a mass-appraisal process. This results in assessments that are accurate in comparison to the market standard, and uniform in comparison to similar properties. Understading your Assessment and Top 7 Things you Need to Know About Your Assessment can assist in understanding your assessment.

A property assessment is the estimated market value of the property, including the land and the building (if there is one). Market Value is the most probable price which would be paid, as of a specified date, for a property that has been exposed in a competitive market with a buyer and seller each acting prudently, knowledgeably and for self-interest, assuming that neither is under duress.

For more on determining market value, go here.

Property assessment notices are mailed to all property owners annually. Upon receipt of an assessment notice a property owner has the right to appeal their assessment. For more on appeals, go here.

If you have questions about the assessed value of your property, contact the Assessment Division at assessment@stjohns.ca or 709-576-8929 and an assessor will be happy to discuss any questions you have.