The key phase in property development is deciding the nature of the development and whether or not to proceed with it. These decisions are based on an evaluation of the market and a financial appraisal of the proposed development including constraints, risks and profit.
The development process can be summarised as:
Property Assessment and Taxes
Bennett JonesIndustrial Property in Alberta: Considerations for Purchase and Lease
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From the County of Camrose
Alberta Property Assessment & Tax Information Documents and their Names
Tax CertificatesA Tax Certificate shows the amount of property tax imposed in the year, the amount of taxes owing, and the total amount of tax arrears, if any. It also includes the legal description, municipal address of the property and the monthly payment information, if applicable.
This report is most commonly used by law firms for real estate transactions.
The fee for a Tax Certificate is $40.00.
Ratepayer Summary ReportA Ratepayer Summary Report provides roll number, rural address, land size, subdivision information, zoning, market land site area, farmland valuation, improvement descriptions with size and age, tax status, rural resdential exemptions and total assessment.
The fee for a Ratepayer Summary Report is $10 per parcel, but free for the landowner.
Farmland Calculation ReportThis report provides detailed farmland report and rating percentages for each soil type.
Farmland Drawing$10/parcel, but free for the landowner.
Aerial Photograph$10/parcel, but free to the landowner.
Sales ReportThis report provides the roll number, rural address, parcel size, legal location, certificate of title, sale date and sale price.
The fee for this report is $10 minimum for 5 pages and $2 for each additional page.
From the County of Cardston
Assessments and Mill Rates
AssessmentsProperty assessment is the process of assigning a dollar value to a property for taxation purposes. In Alberta, property is taxed based on the ad valorem principle. Ad valorem means "according to value.” This means that the amount of tax paid is based on the value of the property.
The market value-based standard is used to determine the assessed values for the majority of properties in Alberta.
Market value is the price a property might reasonably be expected to sell for if sold by a willing seller to a willing buyer after appropriate time and exposure in an open market.
Assessors gather information on ranges of sale prices in the marketplace. This statistical data is used as part of the process for calculating market value-based assessments.
Mill RatesMill rates are established every year by a bylaw approved by Council. A mill rate is the rate used to calculate your annual tax levy. This is called the mill rate because the number is expressed in mills - one mill is 1/10th of a cent ($.001).
Your mill rate is the amount of taxes to be raised for every $1 of assessed value for your property.
For example: A tax parcel valued at $1,000, with a combined residential mill rate of 7.4943, would have a tax levy of $7.49.
Minimum Property TaxCardston County has set a minimum property tax per parcel.