“Although there will always be variances among individual properties and communities, and some property types did experience a decrease, the value of most property types and businesses remained consistent from July 1, 2014 to July 1, 2015.”
2016 Property and Business Assessment Notices mailed
For immediate release
CALGARY – Today, Jan. 5, 2016, The City of Calgary will mail over half a million property and business assessment notices. The 2016 assessment values reflect the market value of property on July 1, 2015, adjusted for any changes in physical condition recorded by Dec. 31, 2015; and the typical net annual rental value of business premises on July 1, 2015.
Based on this legislated valuation date of July 1, 2015, the overall 2016 assessed values for both property and business remained fairly stable.
“Our observation and analysis showed that the market – especially the residential market – held its value reasonably well,” said Nelson Karpa, Director/City Assessor.
- The 2016 median single residential assessment is $480,000 compared to $475,000 in 2015.
- The 2016 median residential condominium assessment is $280,000 compared to $290,000 in 2015.
Today also marks the beginning of the 60-day Customer Review Period (CRP). Property and business owners are advised to carefully review their assessment and if they have any questions, contact Assessment at 403-268-2888 during the Customer Review Period – on now until March 7, 2016. Changes to a 2016 assessment can only be made if an inquiry is received during the Customer Review Period.
Property and business owners are encouraged to visit Assessment Search at calgary.ca/assessment to access more detailed information about their assessment and to compare it with other similar properties/premises to ensure fairness and equity.