Every year, Calgary homeowners receive their property assessment notice from the city, detailing the assessed value of their home for taxation purposes. But what exactly does this assessment mean, and how does it impact you as a homeowner? More importantly, how does it compare to the true market value of your home?

In this guide, we’ll break down the property assessment process, what it means for your taxes, and what to do if you believe your assessment is incorrect.

What is the City of Calgary’s Property Assessment?

The City of Calgary conducts an annual property assessment to determine the value of homes for the purpose of calculating property taxes. The assessment is based on:

📅 Market conditions as of July 1 of the previous year
🏡 Physical characteristics of your home as of December 31 of the previous year
📍 Comparable sales in your area

The Municipal & Provincial Tax Rates – The City sets a municipal tax rate based on its budget needs, and the Province of Alberta sets an education tax rate to fund schools. These rates are expressed as "mills" (mill rate = tax per $1,000 of assessed value).

Formula for Property Tax Calculation:

📌 (Assessed Property Value) × (Total Tax Rate) = Property Taxes Owed

For example, if your home is assessed at $500,000 and the total tax rate is 0.0075 (7.5 mills):
$500,000 × 0.0075 = $3,750 in annual property taxes.

The City adjusts tax rates yearly to balance revenue needs. If your assessed value increases more than the city-wide average, your taxes may rise. If it increases less than average, your taxes could decrease.

The assessment is designed to estimate what your property may have been worth on the open market, but it is not necessarily a reflection of your home’s true real estate value today.

How Does Your Property Assessment Affect Your Taxes?

Your property taxes are calculated based on your assessed value and the city’s tax rate. If your assessed value increases, your property taxes may go up—but not always. The City adjusts tax rates to ensure overall municipal revenue remains stable.

🔹 If your property value increases more than the city-wide average, your taxes may go up.
🔹 If your property value increases less than the city-wide average, your taxes may go down.
🔹 If your property value stays the same but the tax rate increases, you may still pay more in property taxes.

Is Your Property Assessment the Same as Market Value?

No, your property assessment is NOT necessarily the true market value of your home.

The assessed value is based on city-wide data and trends from the previous year, which means it doesn’t account for the latest market changes, renovations, or unique property features that could affect your actual selling price.

For example:
✔️ If the real estate market has surged or declined since July 1, your home’s true market value may be very different from the city’s assessment.
✔️ If you’ve upgraded your kitchen or added a basement suite, the city may not fully account for these changes in its valuation.
✔️ If your neighbourhood has become more desirable or, conversely, experienced a downturn, the assessment may not accurately reflect the current market demand.

If you want to know your home’s true market value, a professional real estate evaluation is your best option.

What If You Disagree with Your Property Assessment?

If you believe your assessment is too high or inaccurate, you have the right to appeal. Here’s what to do:

1. Review Your Assessment Carefully

✅ Compare it to similar homes in your area.
✅ Check that all property details (size, number of rooms, lot size, etc.) are correct.

2. Contact the City for an Explanation

Before filing a formal complaint, call the City of Calgary’s Assessment Office. They can explain how they arrived at your home’s value and make adjustments if a mistake was made.

3. File a Formal Complaint (If Necessary) - You can do so here - https://www.calgary.ca/property-owners/taxes/complaints.html

📅 Deadline: Property assessment complaints must be filed within 60 days of the assessment notice date.
📑 How to File: Submit your complaint to the Assessment Review Board (ARB) with supporting documents, such as comparable sales data or a professional appraisal.

Final Thoughts: Stay Informed & Know Your Home’s True Value

Your property assessment affects your taxes but does not define your home’s true market value. Whether you’re looking to buy, sell, or simply understand your home’s worth, it’s always best to consult with a real estate expert who can provide a current, in-depth market evaluation.

If you have questions about your property’s value or need guidance in navigating the assessment process, reach out today—I’d be happy to help!

Contact

Stuart Bartwicki - 403-479-8990