It's that time of year again in Okotoks where your home's value will be determined to see how much it's worth on the current housing market.

The Town of Okotoks have started their property assessments for 2016.

Town Assessment Department representative Darryl Genereux says residents have gotten their notifications already and are already working on the assessment process.

"The evaluation standard is market value," he says. "What that means from our perspective is that the average assessment within a competitive group should be within the average sales price of the group."

Genereux says some homes depending on many different factors will vary in value.

"Some areas may increase in value more than others, and the idea with the annual assessments is to pick up between different areas and different property types for that matter."

While you may not see an assessor in your home they will still be taking data in on housing values in all communities as they only get around to around 20% of homes each year through a five year cycle.

Genereux says unlike other provinces in Canada, Alberta has to go through this process more than any other province.

"It's annual assessment we have in Alberta and that compares to other provinces where they do them every four years or two years but in the province it's done every year."

For more on property assessment information follow the Town's link here.

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