2013 Assessment Notices are Mailed and the Assessment Customer Review Period Begins

CALGARY – Today, The City of Calgary mailed approximately 491,000 Property and Business 2013 Assessment Notices and commenced the 2013 Assessment Customer Review Period, which runs from January 3 to March 4, 2013.

The 2013 Property Assessment values are based on a July 1, 2012 market valuation date and December 31, 2012 physical condition date as legislated by the Province of Alberta through the Municipal Government Act (MGA). The 2013 Business Assessment values are based on the July 1, 2012 typical net annual rental value of business premises.

The assessed values, which provide the basis for determining property and business taxes, are prepared annually by The City of Calgary. “Preparing assessments on an annual basis helps ensure property and business assessments remain current with changing market conditions,” explains Harvey Fairfield, Calgary’s Acting City Assessor. “The market establishes the value of properties and businesses in Calgary; we simply measure that market value as of July 1 each year prior to the taxation year.”

The 2013 Customer Review Period provides customers with the opportunity to review and ensure the accuracy of their 2013 Assessment and learn more about Calgary’s assessment process. “The Customer Review Period is a top priority for the Assessment business unit,” says Fairfield. “During this time, Assessment staff and resources are fully dedicated to serving our customers and answering their questions.”

In conjunction with the 2013 Assessment Notice mailing, on January 3, the Assessment Search website at calgary.ca/assessmentsearch will be updated with 2013 assessment information. Through the Assessment Search Secure Login service, property and business owners can conduct more in-depth assessment research by accessing more detailed information on their own property or business premises, summary information on other properties or premises for comparison purposes, helpful search tools and account management features. “We continue to enhance the information and services we offer onlineso customers can efficiently and conveniently access tools and resources to help with their assessment review,” says Fairfield. Information about registering for and using the Assessment Search Secure Login service is included with the 2013 Notice mailing and online at calgary.ca/assessmentsearch.

If customers still have questions after reviewing their assessment, they can call the Assessment business unit at 403-268-2888 during the 2013 Customer Review Period to have their inquiries answered over the phone or, if necessary, to book an appointment with an assessor.

THE CITY OF CALGARY 2013 PROPERTY AND BUSINESS ASSESSMENT ROLLS KEY FINDINGS

2013 Property Assessment Roll:

• Based on the market value of property as of July 1, 2012.

• Total number of accounts on the 2013 Property Assessment Roll is 466,000.

• Total value of the 2013 Property Assessment Roll is 254 billion.

• As a result of the 2013 Assessment, the typical residential property assessment change is 3% between 2012 and 2013.

• Approximately 95% of residential properties’ revenue neutral taxes will stay within plus or minus 10% of last year’s taxes.

o 57% of residential properties will see a revenue neutral tax decrease.

o 43% of residential properties will see a revenue neutral tax increase.

• 2013 median single residential assessment (excluding condominiums) is 410,000 compared to 400,000 in 2012.

• 2013 median residential condominium assessment is 250,000 compared to 240,000 in 2012.

• As a result of the 2013 assessment, the typical non-residential property assessment change is 20% between 2012 and 2013.

• Approximately 43% of non-residential properties’ revenue neutral taxes will stay within plus or minus 10% of last year’s taxes.

o 74% of non-residential properties will see a revenue neutral tax decrease.

o 26% of non-residential properties will see a revenue neutral tax increase.

• Changes to the real estate market after July 1, 2012 will be reflected in values prepared for the 2014 Property Assessment Roll.

2013 Business Assessment Roll:

• Based on the typical net annual rental value of business premises as of July 1, 2012.

• Total number of accounts on the 2013 Business Assessment Roll is 26,260.

• Total value of the 2013 Business Assessment Roll is 2.96 billion.

• As a result of the 2013 assessment, the typical business assessment change is 7% between 2012 and 2013.

• Approximately 69% of businesses’ revenue neutral taxes will be within plus or minus 10% of last year’s taxes.

o 62% of businesses will see a revenue neutral tax decrease.

o 38% of businesses will see a revenue neutral tax increase.

• Changes to the typical net annual rental market after July 1, 2012 will be reflected in values prepared for the 2014 Business Assessment Roll.

THE CITY OF CALGARY 2013 PROPERTY AND BUSINESS ASSESSMENT ROLLS

KEY DATES AND ACTIVITIES

July 1, 2012 Valuation date for 2013 Property and Business Assessment Rolls

October 4 -October 31, 2012 2013 Advance Consultation Period

December 31, 2012 Physical condition and characteristics date for property

January 3, 2013 2013 Property and Business Assessment Notices mailed

January 3–March 4, 2013 2013 Customer Review Period

Early February 2013 2013 Business Tax Bills mailed

March 4, 2013 Final date to file a complaint with the Assessment Review Board

March 29, 2013 2013 Business Taxes due

May 2013 2013 Property Tax Bills mailed

June 28, 2013 2013 Property Taxes due

Public Inquiries To:

Assessment Customer Service

Phone: 403-268-2888