Calgary Property Assessments
January 04, 2010 - The city of Calgary today released the updated Calgary Property Assessments. Property Assessments were mailed out today, but can be viewed online by accessing the link below:
Calgary Property Assessment
The 2010 annual property assessments reflect the market value of property and net annual rental values of businesses as of July 1, 2009 and include any physical changes that have occurred up to December 31, 2009. These dates are legislated under the MGA and any changes that occur between July 1, 2009 and July 1, 2010 will be reflected in the 2011 assessment.
The 2010 median single residential assessment (excluding condominiums) is $374,000 compared to $427,500 in 2009. The 2010 median residential condominium assessment is $233,000 compared to $278,500 in 2009.
The total value of the 2010 Calgary Property Assessment Roll is $218 billion, a decrease of $27 billion from last year.
As a result of the 2010 Assessment, the typical assessment change between the 2009 and 2010 Property Assessment Rolls is -13% for residential properties and -15% for non-residential properties.
According to the city there are 7 communities, all in southwest Calgary with a MEDIAN assessment of at least $1-million:
- Belaire @ $1,430,000
- Rideau Park @ $1,340,000
- Upper Mount Royal @ $1,330,000
- Roxboro @ $1,320,000
- Britannia @ $1,195,000
- Eagle Ridge @ $1,385,000
- Elbow Park @ $1,030,000
70%, or just over two-thirds, of residential properties will experience a revenue neutral tax decrease due to the 2010 assessment, while 30% or, just under one-third, will experience an increase in their taxes due to the 2010 assessment only.
These assessments are not an accurate indicator of the current market value of your Calgary property - of the dozens I've looked at today, the assessments range from 50% too low to 40% too high. If you're interested in a current market assessment of your Calgary home or condo, please contact us at 703-2404 or use the form below:
(Fields marked with * are required.)
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