Factors that are taken into consideration when determining the assessed value of a specific property include the size, type, and age of your property, as well as its location, style, condition, upgrades, and lot size. The selling prices of similar properties in the same neighbourhood or similar areas are also considered.Properties in Alberta are assessed using a ‘mass appraisal’ method, which is the process of valuing a group of properties as of a given date using common data, mathematical models, and statistical tests. Information is collected by gathering data from on-site visits (as described above), real estate Multiple Listing Services (MLS), Alberta Land Titles, and financial institutions.