What to know about your 2018 property tax assessment

Last week, the City of Calgary sent out Property Tax Assessments to Calgary homeowners. If you haven’t yet received yours, it’s in the mail and you should get it soon.

Property assessment is a value placed on a property for municipal and provincial taxation purposes. The City of Calgary assesses each property annually to distribute fair and equitable taxation. The estimated value of each property comes from the measurement, analysis and interpretation of the real estate market and is governed by the Municipal Government Act. This process is based on mass appraisal models that are an expression of how supply and demand factors interact in the real estate market. [City of Calgary]

Key factors come into residential property assessments:

  • Location
  • Land use (zoning)
  • Size
  • Influence

A list of potential and specific factors that could contribute to residential market value, can be found on the City of Calgary website.

You should be receiving your assessment in the next day or so, if you haven’t already. Once you receive your assessment, go through it thoroughly. If you don’t agree with your assessment, the Customer Review Period is held for 67 days following the mailing date of the notices. Changes to your assessment are only considered if inquiries are received by the City during this period.

 

Be sure to check your assessment for:

  • The information on record for the property is correct.
  • The assessment is a reasonable estimate of market value for the property, as of July 1 of the previous year (2015).
  • The assessment is equitable compared to similar properties or premises.

If you have concerns that your assessed property value is not an accurate reflection of your property, you need to contact the City of Calgary. A comprehensive guide to 2018 property tax assessments and notices can be found online here.

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