Calgary property assessments mailed out as single residential home values rose in 2021

The City mailed out property assessments worth $313.5 billion Wednesday, or over $16 billion more than in 2021

CALGARY -

The City of Calgary mailed out close to 560,000 property assessment notices Wednesday.

The total value of those notes was $313.5 billion, an increase over last year by more than $16 billion.

The median single residential assessment was $415,000, a $40,000 jump from the year before.

For condo owners, the median price remained the same as last year, at $235,000.

Single residential property owners can expect their property taxes to rise, while condo owners may see a slight decrease.

Meanwhile, offices dropped 10 per cent in overall value, a dip the city said was caused by pandemic restrictions that cause people to work from home. That has played a role in increasing vacancies in the office sector and lowering property values.

Your 2022 property assessment notices are on the way.

The property assessment value is based on the July 1, 2021 market valuation and this year's median assessment value is:

🏠Single residential - $485,000
🏢Residential condominium - $235,000

To learn more click 👇

— City of Calgary (@cityofcalgary) January 5, 2022