Calgary's annual property tax assessments in the mail

It's that time of year again when the city sends its annual assessment notices to tell Calgarians how much the city thinks their property is worth.

Letters have been mailed to around 500,000 property owners and the information is also available online.

Nelson Karpa, city assessor, says property values are stable for single residences, while there is a minimal decrease in the property values of condominiums.

"The overall market change of the residential component is about minus oneper cent. So if your assessment went down greater than minus oneper cent, chances are you will receive a slight decrease in your taxation for 2019. If your property went down by about that same one per cent, your 2019 taxes will be relatively unchanged," Karpasaid.

Calgary city councillors approved a 3.45 per centproperty tax hikefor 2019 at the end of November.

The total value of Calgary's 2019 assessment roll dropped from the 2018 assessment down to $306 billion from the $311 billion reported in 2018.

Both the median assessments for homes and condominiums in Calgary saw a $5,000 drop in 2019 compared with the year before. The median single-family home assessment fell to $475,000, while condominiumsfell to $255,000.

Property assessments are based on market valuations from July the previous year. Property owners who do not agree with the city's assessment have until March 12 to file an appeal.

More information on city assessments can be found on the City of Calgary website.

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