Monday, January 4, 2010

2010 Assessment Notices mailed out and Customer Review Period Begins

Close to a half million Property and Business Assessment Notices were mailed out today, thus beginning this year’s Assessment Customer Review Period.

The assessed values, which are used as the basis for determining property and business taxes, are prepared annually by The City of Calgary.

“Preparing assessments on an annual basis ensures property and business owners’ assessments maintain currency with changing market conditions and experience more stability in year to year property and business tax levels,” said Stuart Dalgleish, Calgary’s City Assessor.

“The market establishes the value of properties and businesses in Calgary - we simply measure that market value on July 1st each year.”

The 2010 Customer Review Period provides customers with the opportunity to review and ensure the accuracy of their 2010 assessment.

Dalgleish said that customers are encouraged to visit Calgary.ca/assessment to further review their assessment and compare with other communities. This year there is more property-specific information such as property influences, year of construction, building area, condition, updates and other attributes.

Compared approximately to the city-wide typical per cent change, if a property or business’ year-to-year per cent change in assessment is:
  • Less – that property or business’ revenue neutral taxes will decrease
  • The same – that property or business’ revenue neutral taxes will stay about the same
  • More – that property or business’ revenue neutral taxes will increase
If customers have questions after reviewing their assessment, they can call the Assessment business unit at 403-268-2888 during the 2010 Customer Review Period to have their inquiries answered over the phone or to book an appointment with an assessor.

In 2010, The City of Calgary mailed 439,000 Property Assessment Notices to Calgary taxpayers, which is an increase of 8,000 from 2009. The total value of the 2010 Property Assessment Roll is $218 billion, compared to $245 billion in 2009.

As a result of the 2010 assessment, the typical assessment change between the 2009 and 2010 Property Assessment Rolls is -13 per cent for residential properties and -15 per cent for non-residential properties.

Due to the 2010 assessment, 92 per cent of residential properties’ revenue neutral taxes will be within plus or minus 10% of their 2009 taxes.

Over two-thirds of residential properties, will experience a revenue neutral tax decrease due to the 2010 assessment, while about one-third, will experience an increase in their taxes due to the 2010 assessment.

The 2010 median single residential assessment (excluding condominiums) is $374,000 compared to $427,500 in 2009. The 2010 median residential condominium assessment is $233,000 compared to $278,500 in 2009.

In 2010, The City of Calgary mailed approximately 25,400 Business Assessment Notices, which is an increase of 300 from the 25,100 Business Assessment Notices mailed in 2009.

As a result of the 2010 assessment, the typical assessment change between the 2009 and 2010 Business Assessment Rolls is -3 per cent. The total value of the 2010 Business Assessment Roll is $3.05 billion, approximately the same as in 2009.

Key 2010 Assessment Dates:

July 1, 2009 -Valuation date for 2010 Property and Business Assessment values
October 1 – November 13, 2009 - 2010 Advance Consultation Period
December 31, 2009 - Physical Condition date for 2010 Property Assessments
January 4, 2010 - 2010 Property and Business Assessment Notices mailed andstart of 2010 Customer Review Period
January 4 – March 5, 2010 - 2010 Customer Review Period
January 29, 2010 - 2010 Business Tax Notices mailed
March 5, 2010 - Deadline for filing an assessment complaint with the Assessment Review Board
March 31, 2010 - 2010 Business Taxes due
May, 2010 - 2010 Property Tax Notices mailed
June 30, 2010 - 2010 Property Taxes due

The 2010 Property Assessment values are based on a July 1, 2009 market valuation date and December 31, 2009 physical condition date as legislated by the Province of Alberta through the Municipal Government Act (MGA). The 2010 Business Assessment values are based on the July 1, 2009 typical net annual rental value of business premises.

For more information please visit Calgary.ca/assessment

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