Non-Residential Properties

 

How are non-residential properties assessed?

The primary valuation method used to value non-residential properties (such as shopping centres, office buildings, and warehouses), is the income approach.  Market value is based on the rental income generating capability of the property.  Rental income, operating expenses, maintenance costs and capitalization rates are analyzed to determine the market value.

Other methods used to value commercial property include the sales comparison approach and the depreciated cost approach. 

Please contact a commercial assessor at 780-459-1603 to discuss any questions regarding valuation.  Current Tax Rates for the non-residential property are available.