2017 Property and Business Assessment Roll
Today, The City of Calgary is mailing over half a million property and business assessment notices.
Residential assessment values have experienced an average decrease of four per cent from 2016 assessment values.
- The 2017 median single residential assessment is $460,000 compared to $480,000 in 2016.
- The 2017 median residential condominium assessment is $270,000 compared to $280,000 in 2016.
Non-residential values have decreased by approximately six per cent from 2016. Downtown office properties and businesses have experienced a greater than average decrease due to vacancies. That has resulted in a redistribution of the tax liability to non-residential properties outside of the downtown core and those non-residential properties where assessments are remaining stable.
The City is required under the Municipal Government Act to conduct an annual assessment.
“Many Calgarians, especially those owning residential properties, will see a decrease in their property assessments,” said Harvey Fairfield, Acting Director/City Assessor. “On July 1, 2016, the non-residential market showed a decrease in the market value, especially of downtown properties. This has resulted in a redistribution of non-residential taxes to those non-residential properties with stable assessments.”
The 2017 property assessments reflect the market value of properties on July 1, 2016, and the physical condition and characteristics of properties on Dec. 31, 2016. The 2017 business assessments reflect the typical net annual rental value of business premises on July 1, 2016.
Each year, the assessment process provides market value assessments used to determine the distribution of property and business taxes. Tax bills also include any provincial requisition and business tax consolidation (for non-residential property and business owners only).
Today also marks the beginning of the 60-day Customer Review Period (CRP). Property and business owners should carefully review their assessment notice and if they have any questions, call The City at 403-268-2888. Changes to a 2017 assessment can only be made if an inquiry is received during the Customer Review Period that runs Jan. 5 to March 6, 2017.
Property and business owners are encouraged to visit Assessment Search at calgary.ca/assessment for detailed information about their assessment, ensure information is accurate and compare their assessed value with other similar properties/premises.