2014 Property Assessments are in the mail

Nearly 2,000 flood damaged properties experienced a reduction in their assessed market value used to calculate 2014 assessments

The majority of property and business owners in Calgary will find an increase in the assessed value of their homes and businesses when they receive their 2014 Assessment Notice from the City of Calgary.

The average assessment of a single residential property in Calgary is $430,000 and the average condo unit is $260,000, jumps of approximately six per cent from the 2013 assessments.

“Overall, we’re seeing a steady and consistent growth in the market between 2013 and 2014,” said Nelson Karpa, City of Calgary Assessor.

2014 assessments are based on a property’s market value as of July 1, 2013 and the property’s condition as of December 31, 2013.

June’s flooding of the Elbow and Bow Rivers prompted a significant decrease in the assessed values of nearly two thousand Calgary properties. The combined market value reduction of the 1,939 properties is $405 million.

“Assessment staff used aerial imaging, on-site visual inspections and communication with property owners in areas that experienced overland flooding to identify the properties physically impacted by this event,” said Karpa. “From there, we analyzed market activity and reviewed the physical condition of affected properties to determine any changes caused by the flood as of the December 31 physical condition date.”

To review your assessment prior to the arrival of the mailed notice, visit the City of Calgary Assessment Search. A search of your address will provide the assessed value of your property. Further assessment details are available through the Secure Login section of the website which will be accessible using an access code supplied with your mailed assessment.

If you have questions about your assessment, or need to update property information, contact the City of Calgary Assessment at 403-268-2888.

Property Tax Bills will be mailed in May, once the City determines the provincial education tax requirement from property tax. Business Tax Bills will be mailed in February.

Due dates for tax payment: