Calgarians are getting their property assessments in the mail, and while many are within the average, it’s causing sticker shock amongst others.
Some city councillors say their offices are hearing about the assessments this week.
“In my ward it’s not just the condo units that have jumped significantly,” Ward 10 Coun. Andre Chabot said. “It’s those homes that are in the $500,000 to $650,000 range that have also increased disproportionately.”
According to the city, the typical single-family home is worth 14 per cent more this year, with values jumping from $610,000 in 2024 to $697,000 now.
Median condo values jumped to $359,000 this year — a 22-per cent increase from the $295,000 they were worth last year.
Calgarians can appeal their property assessment with the Assessment Review Board by March 31, but those may require evidence including photos and property description.
There are a variety of factors that go into how the city assesses the value of a property, according to Eddie Lee, the City of Calgary’s assessor and assessment & tax director.
For the typical single-family home, these factors are the physical condition and property characteristics including lot size, age, quality, additions, renovations, location, and influences like a view.
Those characteristics are evaluated as of Dec. 31.
“These are the details of your home, no different than what you would’ve first looked for when you’re buying your home,” Lee told Global News.
“All that information plays a role in the assessment values.”
The City of Calgary also looks at the market value of a property on July 1, comparing the past three years of sales of homes in the same neighbourhood that are similar to the property being assessed.
Similar characteristics and market value are also applied to assessing a condo unit.
According to Lee, the continued demand for housing and net migration to Calgary are playing the biggest factors in this year’s assessments.
“In terms of changes from last year’s assessments to this year’s, it’s a result of those market changes,” Lee said.
“We continue to see strong population growth in Alberta and specifically in Calgary because of our relative affordability and availability of jobs.”
So how does this impact your property tax bill?
Lee said it depends on how much your property’s value increased in comparison to all residential properties; overall residential property values increased by 15 per cent this year.
City council set the 2025 residential property tax increase at 5.5 per cent, which is expected to cost the typical single-family homeowner an additional $11.74 per month, and an extra $8.37 per month for the typical condo owner.
Lee said if your assessment value changed by 15 per cent, you would pay roughly the same amount as the 5.5 per cent property tax increase this year.
“If you’re less than that typical 15 per cent, you’d be paying less than that 5.5 per cent increase,” Lee said. “If your home value increased more than that 15 per cent, you’ll be paying more than that 5.5 per cent.”
However, these figures don’t include the provincial portion of property taxes the Government of Alberta requests annually in its budget in February, which will add to some Calgarians’ bills.
Lee suggested Calgarians go to the city website to see a full list of characteristics and sales comparisons used in your property assessment this year, and to call 403-268-8888 if there are any questions about your assessment.
The City of Calgary is also holding its annual ‘Ask the City Assessor’ on Jan. 21, from 7 to 8 p.m.