Average property valuation drops as city of Calgary issues 2021 valuation notices


CALGARY – Calgary property owners can now see the assessed value of their residential or commercial properties after the city released the 2021 figures and opened its client review period.

According to the City of Calgary, the total value of the 2021 assessment roll is $ 297 billion, down from the $ 301 billion in total assessments in 2020.

Over 550,000 notices of assessment were distributed, of which approximately 93 percent were sent by mail and approximately seven percent by electronic notice.

The average residential property owner will experience a 2% drop in the property market from last year, while non-residential market valuations are down, on average, 6% from 2020 figures .

The city assesses the property’s value in 2021 based on market valuations as of July 1, 2020 and the condition of the property as of December 31, 2020.

“The Calgary real estate market, as of July 1, 2020, reflected a slight and steady decline in the majority of residential properties,” said Eddie Lee, Acting City Appraiser and City of Calgary Appraisal Director, in a statement. published Thursday morning. “With non-residential properties, we’ve seen the office sector continue to decline.

“While there was a decline in demand for traditional brick and mortar retail spaces, the growth of e-commerce has benefited the industrial asset class. “

Homeowners will have until March 23 to appeal to the city’s Assessment Review Committee.

The median valuation of single-family homes is $ 445,000 in 2021, a decrease of $ 10,000 from the median of $ 455,000 in 2020.

For condominiums, the median also saw a year-over-year decline of $ 10,000, from $ 245,000 in 2020 to $ 235,000 this year.

City officials say about 32,000 homes were inspected for damage following the hailstorm that hit several northeastern neighborhoods in June. Of these homes, more than 7,500 were considered to still have damage as of December 31, 2020 that warranted a reduction in the assessment.

For more details on property assessments, visit City of Calgary Property Assessments or contact the Assessment Team at 403-268-2888 between 8 a.m. and 4:30 p.m., Monday through Friday.


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