2020 Property Assessments have been mailed out in Calgary
It’s that time of year again – property assessments have officially been mailed out in Calgary. Each year, property owners wait for this assessment to see how much tax they owe, based on a variety of factors. A few days ago, the City of Calgary issued over half a million assessments. Now, the review period begins and runs until March 10, 2020.
Each year’s property assessment is based on the July 1 market evaluation and the physical condition determined on December 31. For a quick refresher, “an assessment is the market value of a property, both buildings and land, that are used to calculate each property owner’s share of taxes.” These values are assessed including market changes to determine fair evaluations throughout the mass appraisal process. This year, the 2020 Assessment Roll came to a total value of $301 billion, dropping from $306 billion in 2019:
“We have seen an overall slight decline in the residential market. While the decline in the residential market has been fairly consistent across the city, we also have observed that generally, higher-valued homes have seen a higher level of market value decline in comparison to more moderately valued homes. In the non-residential market, we have seen an overall modest increase in market values. Generally, we have observed a slight increase in the market value for office properties and modest strength in the market values of retail and industrial properties,” says Nelson Karpa, City Assessor and Director of Assessment.
The City of Calgary mailed over 544,000 Assessment Notices to Calgary property owners this year. Overall, residential properties dropped by four per cent and non-residential dropped by two per cent. Both the median single residential and condominium assessments are down from 2019, while non-residential properties have slightly increased. The industrial property value remains strong in Calgary, with many 2019 new projects completed in our city. Through the Assessment Search’s secure account feature, the city delivered over 25,000 e-notices to Calgary property owners.
During this review period, the city encourages all property owners to review their assessment to ensure it is fair, accurate and equitable. If you would like to look at your 2020 assessment online, please use the provided Assessment Tool. You may also like to use their property tax calculator to check the numbers and ensure you agree with the outcome. Once you have checked your assessment, you have the opportunity to ask any questions you may have by calling the city assessors directly at 403-268-2888 between the hours of 8 am-4:30 pm Monday to Friday.
Important upcoming dates:
- January 2-March 10, 2020: Customer review period.
- March 10, 2020: Final day to file a complaint with the Assessment Review Board.
- May 2020: Property tax bills mailed.
- June 30, 2020: Property taxes due.
If you have any more questions on the City of Calgary’s annual Assessment Process, please visit their website above. We encourage you to review your assessment carefully and inquire if necessary.