Calgary Property Assessments: Fact or Fiction?
According to the 2010 Calgary property assessments the city mailed out January 4th, Calgary property values dropped by 13% from the previous year.
Clients often call me this time of year questioning their property assessment. The city's assessment process confuses many property owners, who often believe their Calgary home or condo is worth far more or less than the posted assessed values.
Let's be clear about one thing: city property assessments have no relationship to the current market value of Calgary property. The 2010 annual property assessments reflect the estimated market value of property as of July 1, 2009 and include any physical changes that have occurred up to December 31, 2009. The…