For better or for worse, it's property assessment day in Calgary

It's a day of rage, or joy, or confusion, or apathy, or some combination thereof in Calgary today. Yes, property assessment are being sent out to homes and businesses along with the corresponding tax rate.

The assessments are also available on the city's website.

City assessor Harvey Fairfield says the median single residential assessment is $480,000, comparedto $460,000 last year.

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The median assessment for condos is down $10,000 to $260,000.

Business properties in general have seen a decrease in value, but Fairfield said industrial land value has actually increased. Retail values have remained stable and office space has decreased, though not at the same level seen between 2016-2017.

Median office space assessments fell by more than 10 per cent across the city, with increased inventory and a slow economic recovery contributing to an excess of space.

67 days to appeal

Fairfield said residential communities with the largest median tax shift and change for 2018 include:

• Scarboro-Sunalta west.
• Rosedale.
• Roxboro.
• Mount Pleasant.
• West Hillhurst.
• Rosscarrock.

Residential communities with the smallest median tax shift, according toFairfield,include:

• The downtown west end.
• Downtown commercial core.
• The Beltline.
• Livingston.
• Eau Claire.

City council approved a 3.8 per cent tax increase this year, which includes 1.8 per cent of so-called tax room left by the province.

The assessments are based on the estimated value of the home in July2017. Owners have 67 days to appeal their assessment.

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