Friday, January 3, 2014
2014 Assessment Notices are mailed & Customer Review period begins
Today, The City mailed 2014 Assessment Notices to approximately half a million property and business owners.
The typical single residential property in Calgary is now assessed at $430,000, while the typical residential condominium is assessed at $260,000.
“Overall, we’re seeing a steady and consistent growth in the market between 2013 and 2014,” says Nelson Karpa, City Assessor.
Property assessments reflect the market value of property on July 1, 2013 and the physical condition as of December 31, 2013. The 2014 business assessments reflect the typical net annual rental value of premises as of July 1, 2013.
The June 2013 flood required special consideration by City Assessors. "Staff used aerial imaging, on-site visual inspections and communication with property owners to identify the properties physically impacted by this event”, says Karpa. “From there, we analyzed market activity and reviewed the physical condition of affected properties to determine any changes caused by the flood as of the December 31 physical condition date.”
As a result of this analysis, 1,939 property assessment accounts have been identified to-date as experiencing a market value reduction, at approximately $405 million, due to the flood.
“We are committed to delivering fair and equitable assessments and encourage all property and business owners to use the Customer Review Period to check, review and compare their assessment and to get their questions answered,” says Karpa.
The Customer Review Period runs until March 4.
The Assessment Search website at calgary.ca/assessmentsearch offers tools and resources to help property and business owners review their 2014 assessment.
If customers wish to discuss their assessment further, they're encouraged to contact Assessment at 403-268-2888.