Edmonton’s 2021 Pre-Roll Consultation: what you need to know
The Pre-Roll Consultation Period is quickly approaching and will commence on November 23, 2020 and end on December 16, 2020
Pre-roll in a COVID-19 world
This year more than ever, it will be critical to participate in the City of Edmonton’s 2021 Pre-Roll Consultation Period. The base valuation date for 2021 Assessment is July 1, 2020, 4 months after COVID-19 started to seriously affect Edmonton’s commercial real estate market and deep into the oil price collapse. The effects on property values have been widespread and range from moderate to extreme, depending on asset class. It will be critical to ensure that assessment values accurately reflect the downturn.
This is an excellent opportunity for property owners to pursue assessment reductions in advance of the formal appeal period. We delivered another year of great results for our clients in 2020 and feel this is the best opportunity to do so again for 2021.
Pre-Roll is an opportunity for property owners and their authorized agents to:
- Obtain preliminary 2021 assessment values
- Discuss the details of the valuation
- Exchange information with the City’s Assessment Department that may assist in determining values
- Negotiate reduced assessments
- Assessed values are often too high relative to this changing market and the commercial tax rate has the potential to be higher next year
- Edmonton commercial real estate market faced challenges in the Alberta economic downturn and with the pandemic on top of that, the challenges just get tougher
- Opportunities for early tax savings and certainty, along with avoidance of the appeal process are greater than ever
How to participate
There have been some significant changes in how The City of Edmonton will conduct Pre-Roll for 2021. Due to Covid-19 disruptions, timelines have been pushed back, as follows:
Week of October 6, 2020: Pre-Roll letters mailed to property owners for Non-Residential and Multi-Residential properties.
November 23, 2020: Assessment Branch will start contacting representatives to set up appointments.
November 23 to December 16, 2020: Pre-Roll Consultations with Assessors take place
Mid-February 2021: the 2021 Assessment Notices are to be mailed out.
In addition to changing timelines the City has changed how they process authorization forms. The property owner must now qualify a person with signing authority.
Introduction of the new 2021 Corporate Signing Authority Form
- Inform the City who from a Corporation or Property Management Company has corporate signing authority
- The City of Edmonton will now only accept corporate searches (not older than 30 days), affidavits or management agreements to verify corporate signing authority
- Company titles were enough in previous years–not anymore
- This form will be valid for 2 years from the date signed
To participate in Pre-Roll, Altus Group will need to be authorized as your agent with an Agent Authorization Representative form.
Updated 2021 Agent Authorization Representative Form (Fill & Print) OR Interactive
Agent Authorization Representative Form (ARA) – To be completed by an owner, corporate representative or a property manager to give authority to an individual or corporate agent, who will act as a representative on their behalf to discuss and/or agree to the annual assessment values.
Both these forms can be submitted at the same time.
2021 RFI (Requests For Information)
The City of Edmonton, and all other assessment jurisdictions, send requests for property information (property details, sales and income) every year which are required to be completed and returned. The fulsome response to these requests is more critical than ever this year. This is your chance to inform the assessors of the challenges and issues that properties are facing. Failure to respond to these requests can result in the loss of your right to appeal and leaves the assessor with no information with which to reflect any challenges that a property is facing. We recommend that these requests be answered in a timely fashion and provide the most current information, including any effects from the pandemic and any other challenges.
Please contact us at email@example.com if you have any questions or concerns.