Multi-residential property assessments

Multi-residential property

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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 on July 1 last year and the characteristics and physical condition of the property as of December 31. This is set out within the Municipal Government Act.

How multi-residential properties are assessed

  • Multi-residential properties are assessed using the income approach to value. A gross income multiplier 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 the 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.

Key factors, components and variables

Property type stratification

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


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

Number of units

  • Less than 30 units
  • 30 or more units


  • Fair
  • Average
  • Good
  • Excellent
  • Luxurious

Suite mix configuration

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

The City assesses multi-residential land annually for the purposes of taxation. Multi-residential land is characterized as parcels that have not been improved, and are zoned as multi-residential land use as of December 31 of the previous 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

Key factors, components and variables


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

Land use (zoning)

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


Legal parcel size.​


  • Land use restrictions
  • Environmental concerns
  • Flood plain
  • Access
  • Residual parcel
  • Shape
  • Topography
  • Views
  • Servicing
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Assessment Search is our online resource for property and business owners to access more detailed information about their assessment and property details.