News Release: 2018 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 increase of two per cent from 2017 assessment values.
- The 2018 median single residential assessment is $480,000 compared to $460,000 in 2017.
- The 2018 median residential condominium assessment is $260,000 compared to $270,000 in 2017.
- Non-residential values have decreased by approximately five per cent from 2017.
The 2018 property assessments reflect the market value of properties on July 1, 2017, and the physical condition and characteristics of properties on December 31, 2017. The 2018 business assessments reflect the typical net annual rental value of business premises on July 1, 2017.
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 67-day Customer Review Period (CRP). 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.
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 2018 assessment can only be made if an inquiry is received during the Customer Review Period that runs January 4 to March 12, 2018.