Were You Shocked by Your 2026 Property Assessment in Edmonton, Leduc or Surrounding Area?
Is Your Home Really Worth That Much?
That envelope shows up every year… and sometimes it raises eyebrows.
Whether you live in Edmonton, Leduc, Beaumont, Nisku, Devon, Sherwood Park, Spruce Grove, or St. Albert, property assessment notices often spark questions.
Before you celebrate, or panic let’s break it down and explain what your city property assessment really means… and what it doesn’t.
What Is a Property Assessment in Alberta?
A property assessment is the dollar value assigned to your home for property tax purposes.
In Alberta, property taxes are based on the ad valorem principle, which simply means “according to value.” The higher your assessed value, the larger your share of municipal property taxes.
Municipalities like the City of Edmonton and the City of Leduc use a system called mass appraisal. This means thousands of homes are valued at once using:
Recent comparable sales
Neighbourhood market trends
Property characteristics
Mathematical models and statistical analysis
Your 2026 assessment reflects a valuation date from the previous year — not necessarily today’s real-time market.
What City Assessments Don’t Consider
This is where confusion often happens.
A city assessment typically does not account for:
The current interior condition of your home
Unrecorded renovations or upgrades
Staging or presentation
Buyer competition in today’s market
Your urgency or motivation to sell
Unique design features that affect desirability
Which is why your assessed value and what your home would actually sell for in Edmonton, Leduc & Surrounding areas can be very different.
Let’s Clear Up Any Confusion on Your Homes “Value”
There are several terms in real estate relating to “Value”.
Here’s what each one means for homeowners:
1. True Market Value
This is what your home would actually sell for on the open market, typically through MLS® after being exposed to buyers for a reasonable amount of time.
It reflects:
Current inventory levels
Buyer demand in your neighbourhood
Interest rates
Comparable recent sales
Seasonal market shifts
This is the number that matters if you’re thinking of selling.
2. Estimated Market Value (Comparative Market Analysis)
This is what a REALTOR® provides when helping you determine a potential selling price.
It’s based on:
The most recent comparable sold homes
Current competition on the market
Active buyer demand
Overall market conditions
In markets like Edmonton and Leduc, where neighbourhood demand can vary significantly, this estimate reflects today’s reality, not last year’s data.
3. Assessment Value
This is the value your municipality assigns to determine your property taxes.
Important to know: There is no fixed or guaranteed correlation between assessed value and what your home will sell for.
Some homes sell below assessment.
Others sell tens of thousands over assessment.
So if your 2026 property assessment increased or decreased, it does not automatically mean your selling price will follow.
4. Appraisal Value
An appraisal is completed by a licensed appraiser regulated in Alberta.
Typically ordered by lenders
Are completed for a fee
Rely heavily on previously sold comparable homes
While appraisers focus on historical sales data, they may also consider current market conditions.
The Purpose? Though they can be ordered by a buyer or a seller, appraisers are typically ordered by the lender to protect the lender and confirm the property supports the agreed purchase price.
5. Replacement Value
Replacement value is used for insurance purposes.
It represents the cost to rebuild your home from scratch in the event of a total loss, excluding the land value.
With rising construction and labour costs in Alberta, replacement value can differ significantly from both your assessed value and market value.
So… Is Your Home Really Worth What the Assessment Says?
Maybe. But most likely not.
Your city assessment simply determines your share of property taxes.
The market determines what a buyer is willing to pay.
If you’re considering selling, or want some clarity, the most useful number is your current estimated market value based on what’s happening right now in Edmonton, Leduc and surrounding areas.
If you’d like a clear comparison, we’re always happy to walk you through it.
Clear information leads to confident decisions and that’s exactly how it should feel when thinking about buying or selling!
Alanna Dawley & Jackie Fraser
REALTOR® | The Spring Team with Grassroots Realty Group
alanna@grassrootsrealtygroup.ca
(780) 288 6763
jackiefraser.realtor@gmail.com
(780) 297 2638
