City of Calgary - Tax Highlights and Assessments - 2016
- Information to compile this data is put together as of July 1, 2015, and compared to the 2015 assessment which was compiled July 1, 2014.
- Overall the median single family property (non condominium) went from an assessed value of $475,000 in 2015 to $480,000 in 2016. An increase of 1%.
- The 2016 median residential condominium assessment is $280,000 compared to $290,000 on the 2015 roll; a reduction of 3.6%.
- The typical market value residential property assessment change is a decrease of one per cent between 2015 and 2016. This is not so much a result of lower values in the condominium market as it is a significant reduction in the values of the properties at the very high end of the price range.
- These values match the results from the Calgary Real Estate Board for this time period.
- 93% of all properties have assessments that are within +/- 10% of their 2015 assessments.
So, if you are a home owner, what does this mean for you?
Taxes for an individual property in 2016 will be a combination of the relative change of that property compared to the previous year, the overall change in assessed value in the city and the increase in the city budget.
The customer review period for formal review by the city (at a cost of $30) is open from now till March 7, 2016. It is not usual for assessments to be changed, however in exceptional circumstances or if the city has a technical error in the database for your property, there may be grounds for changes.
To find more information the link below is a good place to start.
http://www.calgary.ca/PDA/Assessment/Pages/Assessment-Roll-Highlights.aspx