The Rivers District is an area designated by The City of Calgary for improvement. Properties within this area are subject to a Community Revitalization Levy (CRL) as per provincial legislation. The CRL allows The City, for a 20-year period, to segregate a portion of the property tax revenue generated from The Rivers District properties and directly invest it into infrastructure improvements within this area.
Community Revitalization Levy taxpayers:
- The total property assessed value has not been affected by the CRL.
- The total property taxes levied on your property have not been impacted by the creation of The Rivers District.
- Only the distribution of property taxes has changed, with a greater portion going to fund infrastructure improvements in the District.
The CRL does not increase your taxes; it diverts a portion of your taxes to finance The Rivers District development projects.
Assessment Notice Differences
For the past three years, property owners within The Rivers District received assessment notices that differ slightly from other property assessment notices. The total assessed value for the property has been separated into "baseline assessment" and "incremental assessment" values.
The baseline assessment refers to the 2007 assessed value of the property as of Dec.31, 2006. This value will remain the same and appear on CRL properties’ assessment notices for the coming years.
The incremental value is the increase in the assessed value of the property from the baseline assessment to its current assessed value. The incremental assessment will adjust over time with the market value of the property.
The distinction between baseline and incremental assessment is a legal requirement to reflect the fact that the property taxes on the incremental assessment of all properties within
The Rivers District will be invested in the infrastructure improvements within The District.
Please note: CRL property owners, like all property owners, receive a market value property assessment as of July 1 of the previous year with physical conditions as of December 31 of the previous year.
If you have any questions or concerns regarding the CRL, please contact Calgary Municipal Land Corporation at 403-718-0300.