Multi-residential property assessments

The Assessment business unit deems any residential property with four or more self contained dwelling units under a single legal description in the land titles offices to be multi-residential property for assessment and taxation purposes. This does not include condominium titled properties as they are assessed by using the direct comparison approach.

Multi-residential properties are stratified by property type:

Fourplex
Lowrise
Highrise
Townhouse
Mixed Use

July 01, 2011 valuation date

Your 2012 Assessment reflects the estimated market value of your property based on the valuation date of July 01, 2011, as set by the Municipal Government Act.

How multi-residential properties are assessed

Multi-residential properties are assessed using the income approach to value. The technique used is referred to as a gross income multiplier (GIM).

A gross income multiplier is the ratio between the gross income that a property is capable of producing and the market value of the property.
Gross income multipliers are derived from market analysis (Sales).
Gross income multipliers are applied to each property's typical market rent to estimate market value for assessment purposes.
Market rents are derived from an analysis of rental data obtained from building owners through the Assessment Request for Information (ARFI) process. ARFI forms are sent annually to property owners to obtain current market information which is used in deriving multi-residential assessments.

Information we use to assess multi-residential properties (key factors, components and variables).

Multi-residential inventory is stratified and sorted using criteria such as location, building type and year of construction.

Location: There are nine market zones for multi-residential properties in Calgary (Downtown, Beltline, North Hill, Southwest, Southeast, Northwest, Northeast, Chinook, Fish Creek). These closely mirror the nine market zones that Canada Mortgage and Housing Corporation (CMHC) reports on annually and are also similar to other third party reports such as the Calgary Apartment Association.
Building Type: Each market zone, multi-residential properties are further stratified into the sub categories of Fourplex, Townhouse, Lowrise, Highrise, and Mixed Use (which has a combination of multi-residential and commercial components and can be in either Lowrise or Highrise).
Year of Construction: Construction eras may be used to further stratify inventory such as 1900-1945, 1946-1964, 1965-1990, 1991-2006, 2007-present.
Quality: Quality is also considered in the stratification process and may be coded as being Fair, Average, or Good/New.
Suite Mix: Is a combination of the number of units and the type of units, such as Bachelor, 1 Bedroom, 2 Bedroom, 3 Bedroom, etc.

Where you can find more information about this property type.

Assessment Search at "calgary.ca/assessmentsearch" offers more information, enhanced search capabilities, a secure environment or your information and new account management features. By selecting our new secure login service for Calgary property owners, you can conduct more in-depth assessment research, using real estate market information, summary assessment information of other properties and more detailed information about your property.