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Multi-residential property assessments

Any residential property with four or more self contained dwelling units under a single legal description with Alberta Land Titles is considered to be a multi-residential property for assessment and taxation purposes. This does not include condominium titled properties.

Your assessment notice reflects the estimated market value of your property based on the valuation date of July 1 of the previous year, as set by the Municipal Government Act.

How are multi-residential properties assessed?

Multi-residential properties are assessed using the income approach to value. A gross income multiplier (GIM) is applied to income to derive value:

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) and are applied to each property's typical market rent to estimate market value for assessment purposes.

Typical market rents are determined by an analysis of rental data obtained annually from building owners through the Assessment Request for Information (ARFI) process.

Multi-residential building - key factors, components & variables

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Variables

Row Count: 5
ListCat: multi-res building factors
ID: 3416

  • Highrise
  • Lowrise
  • Townhouse
  • Fourplex
  • Mixed use (lowrise or highrise with commercial space)
  • Rooming house of Collective
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Variables

Row Count: 5
ListCat: multi-res building factors
ID: 3417

  • MR1 – Centre City - Downtown
  • MR2 – Centre City - Beltline
  • MR3 – North Hill
  • MR4 – Southwest
  • MR5 – Northeast
  • MR6 – Northwest
  • MR7 – North
  • MR8 – Chinook
  • MR9 – South
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Variables

Row Count: 5
ListCat: multi-res building factors
ID: 3418

  • Less than 30 units
  • 30 or more units
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Variables

Row Count: 5
ListCat: multi-res building factors
ID: 3419

  • Fair
  • Average
  • Good
  • Excellent
  • Luxurious
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Variables

Row Count: 5
ListCat: multi-res building factors
ID: 3420

A combination of the number of each type of unit:

  • Bachelor
  • 1 bedroom
  • 2 bedroom
  • 3 bedroom
  • 4 bedroom/penthouse

How multi-residential land is valued

Assessment assesses multi-residential land annually for the purposes of taxation. Multi-residential land is characterized as those parcels which have no improvements and which have multi-residential land use as of December 31 of the previous assessment year. Multi-residential land is valued using the sales comparison approach.

Information we use to assess:

  • land use (zoning)
  • location
  • size
  • influences
    • (land use restrictions, environmental concerns, flood plain, access, shape, topography, views, servicing)

Multi-residential land - key factors, components & variables

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Variables

Row Count: 4
ListCat: multi-res land factors
ID: 3421

  • MR1 – Centre City - Downtown
  • MR2 – Centre City - Beltline
  • MR3 – North Hill
  • MR4 – Southwest
  • MR5 – Northeast
  • MR6 – Northwest
  • MR7 – North
  • MR8 – Chinook
  • MR9 – South
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Variables

Row Count: 4
ListCat: multi-res land factors
ID: 3422

Multi-residential zoning as laid out by the 1P2007 land use bylaw and any direct control bylaws affecting the property.

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Variables

Row Count: 4
ListCat: multi-res land factors
ID: 3423

Legal parcel size.​

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Variables

Row Count: 4
ListCat: multi-res land factors
ID: 3424

  • Land use restrictions
  • Environmental concerns
  • Flood plain
  • Access
  • Residual parcel
  • Shape
  • Topography
  • Views
  • Servicing
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