WATCH: Property tax assessments are in the mail, and the city says it’s a record year. Doug Vaessen reports.
CALGARY – The City of Calgary says over half a million property and business assessment notices are now in the mail.
The assessments are used to determine property and business taxes, and are based on the market value of property as of July 1st, 2014 and the physical condition as of Dec. 31st, 2014.
Highlights of the most recent assessment include a $45,000 increase in the value of single residential homes to a record $475,000.
The median residential condominium assessment is also up from 2014, jumping $30,000 to $290,000.
Homeowners who wish to appeal their assessment can do so until March 6th, 2015.
“We are committed to delivering fair and equitable assessments and encourage all property and business owners to carefully review their assessment and contact us during the Customer Review Period if you have any questions or concerns,” says Director and City Assessor Nelson Karpa.
In 2015, an additional 10 per cent of business tax revenues will be transferred to and collected through the non-residential property tax as part of the business tax consolidation process.
The City of Calgary says this will result in a total 20 per cent decrease to the 2015 business tax rate.
The 2015 business assessments reflect the typical net annual rental value of premises as of July 1, 2014.
CLICK HERE to view the city’s Assessment Search website, and review your assessment.
NOTE: You will need the access code from your Assessment Notice.
If you have questions or concerns about your assessment, you can call 403-268-2888.
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