Assessments could rise by one per cent in the next year or two, Mayor Judy Dahl says.
Dahl made that statement during an interview with the Albertan.
“Our assessor did note that Olds has not seen a correction in our market as of yet, so we're looking at most likely, a one per cent increase in assessments,” Dahl said.
The assessed value of property is a factor when property taxes are calculated.
“Other communities have started to see some correction in the market; I know Red Deer has. We just haven't seen that yet. We're such a prosperous community, I bet you it's going to take a couple of years to see it,” Dahl said.
