The City of Calgary mailed approximately 482,000 Property and Business 2012 Assessment Notices today. The Assessment 2012 Customer Review Period runs from January 3rd to March 05, 2012.
The 2012 Property Assessment values are based on a July 01, 2011 market valuation date and December 31, 2011 physical condition date.
Below are some of the key findings:
- 2012 median single residential assessment (excluding condominiums) is $400,000 compared to $410,000 in 2011.
- 2012 median residential condominium assessment is $240,000 compared to $250,000 in 2011.
- Total number of accounts on the 2012 Property Assessment Roll is 456,000.
- Total value of the 2012 Property Assessment Roll is 232 billion (Compared to last years total of 231 billion. This was an increase of only $1 billion, down from the $13 billion y/y increase the year previous.)
- As a result of the 2012 Assessment, the typical market value residential property assessment change is -3% between 2011 and 2012.
- This year, approximately 93% of residential properties’ revenue neutral taxes will be within ± 10% of last year’s taxes.
- 62% of residential properties will see a revenue neutral tax decrease due to the 2012 assessment.
- 38% of residential properties will see a revenue neutral tax increase due to the 2012 assessment.