By Brock Ryan, Senior Director, Altus Group

Your upcoming 2022 property tax assessment may seem far away, but the assessment cycle has already begun. Because of the extreme economic challenges of the pandemic, next year’s hotel assessments will likely be the most contentious in Alberta’s history.

How can I avoid paying more than my fair share of property tax?

To ensure you aren’t paying more property tax than you should be, it’s vital that you:

  1. Know how to accurately evaluate your property’s assessment
  2. Respond effectively to Assessment Requests for Information (ARFIs).

What is an Assessment Request for Information (ARFI)?

  • An ARFI is your opportunity to provide accurate information to help municipal assessors calculate your assessment. These are usually mailed out in June or July each year.
  • You typically have 60 days to respond from the date of request.
  • If you do not respond to the ARFI within the specified time period, you may lose your right to challenge the assessed value, which is critical if you believe your property taxes are too high! A higher assessment means higher taxes.

How can I prepare for my ARFI?

Real estate services firm Altus Group will be presenting a free property tax webinar for AHLA members:

Only What is Fair: Hospitality Property Assessment & Taxation During the Pandemic

Monday, June 21 at 2 p.m.

You will learn:

  • how your assessment is prepared,
  • emerging trends in the assessment of hospitality properties,
  • how to respond effectively to your 2022 ARFI request,
  • how to clearly report government subsidy information,
  • what dramatic changes to your property’s Net Income to Real Estate might mean for you next year — and for several years to come,
  • how to take advantage of pre-roll consultation periods to ensure you receive the lowest possible assessment, and
  • the potential negative implications of leaving your assessment concerns to the last minute.

Don’t get stuck paying more property taxes than you need to! Register today for the webinar.

Register Now