Assessment roll highlights
The City of Calgary mails property assessment notices in early January each year.
A property assessment is a value placed on a property for taxation purposes. It reflects the market value of a property based on the market valuation date of July 1 of the previous year.
2024 property assessment roll key findings
Key findings from the 2024 Assessment Roll:
- In 2024, The City of Calgary mailed approximately 580,000 Assessment Notices, including more than 58,000 Assessment eNotices, to Calgary property owners.
- The total value of the 2024 Assessment Roll is $387 billion, an increase of $35 billion in value from last year.
- The typical market value assessment change between this year and last year is 10 per cent for residential properties and three per cent for non-residential properties.
- The 2024 median single residential assessment (excluding condominiums) is $610,000 compared to $555,000 in 2023.
- The 2024 median residential condominium assessment is $295,000 compared to $255,000 in 2023.
- Approximately 90 per cent of revenue neutral taxes from residential properties will stay within 10 per cent of last year’s tax.
- Overall, residential properties increased by 10 per cent.
- Single residential homeowners experienced value increases of nine per cent from last year. Detached home demand continues with increased migration driving property values especially in suburban communities.
- Residential condominiums experienced a 17 per cent increase as new buyers entered or moved into Calgary’s real estate market.
- The multi-residential market experienced a typical increase of four.
- Approximately 80 per cent of non-residential properties’ revenue neutral taxes will stay within 10 per cent of last year’s tax.
- Overall, non-residential properties increased by three per cent.
- Industrial property values increased by nine per cent, which demonstrates the reliability and vitality of this property type. Industrial properties continue to outpace the other non-residential properties due to the sustained demand as Calgary remains a major distribution hub.
- Office properties values had a zero per cent market value change. Calgary’s Downtown office market, the main driver of the office inventory, continues to be stable,
- Retail property values increase by two per cent and continue to exhibit vitality and strength with new businesses filling vacant spaces quickly, which results in higher rental rates and value increases.
For more information, please visit calgary.ca/assessment.
After The City receives the provincial property tax requisition and Council passes the property tax bylaw, the property tax bills, reflecting actual taxes owing, will be mailed each May.