The City of Calgary has mailed out nearly half-a-million property assessment notices.

On average, single-family homes and condos have gone up in value in the past year.

"For a personal wealth thing, it's always comforting to know that your investment is at least remaining static or – in the case of Calgary – improving," says Councillor Gord Lowe.

The city says an average house is now worth about $410,000. Last year, the average was $374, 000. The average condo is worth $250,000 compared to $233,000 the previous year.

The 2011 property assessment values are based on the market value of your home on July 1st and the physical condition of the property on December 31st.

Nearly all communities can expect to see taxes stay within 10 percent of what they were last year.

Property assessments have also gone out to businesses. That amount is based on the July 1st rental value of the property.

City officials say the typical business will see a 14 percent decrease in their assessment.

Property owners have until March 7th to file a complaint with the Assessment Review Board if they do not agree with their property assessment.

To see what your property assessment is, you can go to the City of Calgary's website or click on the link we've created.