FAQ #1: In what geographic areas does CVG offer their services?
CVG serves Alberta, along with clients across British Columbia, Saskatchewan and Manitoba.
FAQ #2: Are you licensed?
Yes, each employee at CVG belongs to the Appraisal Institute of Canada.
FAQ #3: Are you designated?
Yes, at CVG all of our employees have appraisal accreditation or are well along their way to obtaining accreditation.
FAQ #4: Are you qualified?
With over 30 years of experience and handling over $5.5 billions of real estate assets, CVG has the knowledge and expertise to handle any property.
FAQ #5: What is property assessment?
Property assessment is the process of assigning a dollar value to a property for taxation purposes. Note: it is based on last year’s market (not current market conditions). In Western Canada, 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.
FAQ #6: Why would a person need to appeal their property assessment?
Properties are assessed using a method called mass appraisal. Mass appraisal is the process of valuing a group of properties as of a given date, using common data, mathematical models, and statistical tests. Mass appraisal techniques allow assessors to value a large number of properties in a short period of time.
FAQ #7: I think my assessment may be fair, but I’d still like to confirm. Should I start the process?
Absolutely! Many property owners think their assessments are fair, when in fact they can be reduced. There is no risk to you whatsoever to initiate the process as we offer a no cost, no obligation, property review.
FAQ #8: What is the appeal deadline? What happens if I miss it?
The opportunity to lower your taxes comes only once a year. An appeal must be filed before the government filing deadline for each tax year. If the deadline is missed, you will have to wait for one year. We recommend that you start the appeal process as early as possible after you receive your Notice of Assessment to allow sufficient time to prepare a thorough analysis of your property and tax assessment.
FAQ #9: How long does the appeal process take?
The process typically takes three months, but is dependent on when the hearing is scheduled by the municipality. The good news is that the tax saving will be retroactive to the start of the appeal year; thus, creating savings in the year your property was appealed and future tax years.
