This process included the review and update of assessed values from their previous 1993 valuation date to a 1997 valuation date. Appeal mechanisms are in place if taxpayers disagree with their property assessment. The Board is made up of local citizens. If a taxpayer is dissatisfied with the Board's decision, a decision can be further appealed to the Territorial Assessment Appeal Tribunal. The final level of appeal is to the Supreme Court of the Northwest Territories.
Assessed values provide a means of distributing taxes among property owners in Yellowknife.
Municipalities, including the City of Yellowknife, levy taxes to provide services such as fire protection, street lighting, parks and recreation, snow removal, road maintenance and public transit. The assessed value of your property is determined using standards established by Territorial legislation to ensure that all properties are assessed in an equitable manner. Currently, the base year for Yellowknife is 1997. Previous to the 1999 re-assessment, the base year was 1993. These values are determined by analyzing the average selling price of similar parcels of land in an area for the base year.