EDMONTON -- The City of Edmonton has mailed out more than 400,000 property assessment notices for 2020, and almost all of them will show a decrease in value.

The assessments show property owners their new market value as of July 1 of the previous year, as per provincial legislation.

"The assessment is quite a weedy and complicated process but we've done an awful lot of work on our website to make it as easy to follow and easy to understand as possible," Cate Watt with the City of Edmonton said.

The assessments show a general downward trend in housing value. The median value of a single-family home dropped from $399,500 last year to $387,000. 

According to the city, this is the third year in the last four that home values have declined. 

"There's definitely just a very slow market going on. It is harder to sell properties and properties are going down in value as a consequence," said Watt. 

The community of Mcqueen had the biggest decrease in median value for single-family homes, 11.44 per cent. Ramsay Heights had the biggest upswing; market value increased by 4.17 per cent between July 1, 2018 and July 1, 2019. 

"I like the taxes going down anyways," said Mcqueen resident Glady Raffin. 

Homes in Westwood, Riverdale, Cameron Heights and Richford communities all saw drops of more than 9 per cent. 

Conversely, properties in Capilano, Brookside, Glenora, Patricia Heights and Ramsay Heights all saw increases. 

"The neighbourhood average really only tells a tiny part of the story," said Watt. "What matters more is how your property is moving relative to the rest of the properties in Edmonton.," 

Watt encouraged property owners to check their notices to make sure the details are correct and to visit the website for information on how assessments are calculated and trends in their neighbourhood.  Owners can call 311 for additional questions and one-on-one support.

"Make sure you're comfortable with the value the city has put on your property, and that will ensure that you have a fair tax bill come May," she said.

If a property owner disagrees with the assessment, they can file a formal complaint with the Assessment Review Board.

Edmonton's property tax increase is 2.08 per cent this year. Property tax bills will be mailed in May 2020. 

With files from Kelsey Dyer and Jeremy Thompson