How are non-residential properties assessed?
The primary valuation method used to value non-residential properties (such as shopping centres, office buildings, and warehouses), is the income approach. Market value is based on the rental income generating capability of the property. Rental income, operating expenses, maintenance costs and capitalization rates are analyzed to determine the market value.
Other methods used to value commercial property include the sales comparison approach and the depreciated cost approach.
Please contact our commercial assessor at 780-418-6004 or at email@example.com to discuss any questions regarding valuation.
Calculation sheets for non-residential property owners can also be requested by emailing the commerical assessor.
Last edited: January 30, 2020