Bonnyville’s property assessments relayed to council

The Town of Bonnyville’s property assessment overview was presented to council on March. 14.

For the 2022 year residential assessments came in at $586,288,220 and a one to eight per cent increase overall, which is the first increase since 2015. 

Roughly 84 per cent of properties in the Town saw a one to 10 per cent increase in their taxable assessment.

With residential inflation, the market change has increased since 2021 where it sat at $-8.6M and is now up 4.3 per cent to $24.3M.

“We are not lagging but you know we are not really ahead anywhere, we are slightly I believe four per cent on the residential side,” said Elisa Brosseau, Mayor. 

Non-residential saw a dip in the total, a decrease of $13,785,320 from 2021 leaving the 2022 total at $335,816,770.

“We are going through strategic planning with our economic development committee to see where it is that we really want to focus on,” said Brosseau.

“Is it bringing in some box stores, increasing our population? We are working through that process now but I think there is definitely an appetite on the municipal side to do something.” 

Linear totals stayed similar to last years number only increasing 103 for a total of $13,890,780.

“Bonnyville is built on entrepreneurship, people like to take risks here and start businesses,” said Brosseau. 

“There is definitely a willingness to see the town grow and diversify. Potential for us to work with some developers to bring in some new businesses.”

Farmland had the biggest increase originally the total in 2021 being $149,620 and has increased by 361 per cent and the 2022 total is now $540,500.

Moving forward the inspections for property assessments will start come May/June.

RFI letters will be mailed to property owners in July and re-inspections will take place from July – October.

And inspecting new permits and completing market analyses from October – January.