2009 Notices & Information Update
	2009 Notices & Information Update

2009 Notices & Information Update

The City of Calgary Assessment is pleased to provide summary findings on the 2009 market value property assessment and net annual rental value business assessment.  

2009 Property Assessment Findings

• On 2009 January 02,The City of Calgary mailed 431,000 property assessment notices, representing an increase of approximately 18,000 accounts compared to the 2008 assessment roll.
• The total property assessment roll value is $244 billion, up two billion from $242 billion in 2008.
• City-wide typical residential property assessment values have experienced a change of -4%. This compares to a 25% increase between the 2007 and 2008 property assessment rolls.
• City-wide typical non-residential property assessment values have seen a change of +4%. This compares to a 28% increase between the 2007 and 2008 property assessment rolls.
• The median assessment for a single residential property on the 2009 property assessment roll is $427,500. This compares to $447,500 on the 2008 property assessment roll.
• The median assessment for a residential condominium property is $278,500 on the 2009 property assessment roll. This compares to $291,500 on the 2008 property assessment roll.
• 95% of residential properties will experience changes in their 2009 revenue neutral taxes within ±10% of their 2008 taxes as a result of the 2009 reassessment only.
• 68%, or approximately two-thirds, of residential property owners will see a revenue neutral tax decrease as a result of the 2009 reassessment only.
• 32%, or approximately one-third, of residential property owners will see a revenue neutral tax increase as a result of the 2009 reassessment only.
• Changes in the real estate market that occur after the provincially legislated valuation date, being 2008 July 01, will be reflected in the 2010 reassessment.

2009 Business Assessment Findings

• On 2009 January 02,The City of Calgary mailed 25,100 business assessment notices, representing an increase of approximately 300 accounts compared to the 2008 assessment roll.
• The total 2009 business assessment roll value is 3 billion, up 300 million from 2.7 billion in 2008.
• City-wide typical net annual rental values experienced an increase of +8%.
• 74%, or approximately three-quarters of businesses, will experience changes in their 2009 revenue neutral business taxes within ±10% of their 2008 business taxes, as a result of the 2009 reassessment only.
• 67%, or approximately two-thirds of businesses, will see either no change, or a revenue neutral tax decrease as a result of the 2009 reassessment only.
• 33%, or approximately one-third of businesses, will see a revenue neutral tax increase as a result of the 2009 reassessment only.
• The 2009 business assessment revenue neutral business tax rate is 0.0654, or 6.54%, which is the same business tax rate recommended for the 2009 business tax rate bylaw, thereby providing businesses with valuable information about their 2009 business taxes, early in the 2009 taxation year.
• Changes in typical net annual rental values, that occur after July 01, 2008 will be reflected on the 2010 business assessment roll.

It is important to remember that the reassessment process, conducted annually, does not determine the overall level of taxation.  It is purely a methodology to ensure the fair and equitable distribution of taxes required to fulfil the budgetary needs of The City.

Property Interactive Notice  Business Interactive Notice Assessment Search

Residential Property Revenue Neutral Shift Map  (198 KB)