2017 Property Assessment - Calgary
2017Property AssessmentMARKET REPORTi
2017 PROPERTY ASSESSMENT MARKET REPORT
INTRODUCTIONThe Assessment business unit is pleased to present the 2017 Property Market Report. This report provides summaryinformation about Calgary’s 2017 market value property assessments. Provincial legislation requires that The City of Calgary(The City) annually prepare assessments for taxation purposes. The legislation also requires that 2017 assessments reflect themarket value of property on July 1, 2016, and the characteristics and physical condition of the property as of Dec. 31, 2016.This report also provides information about how taxes have been re-distributed as a result of the annual assessment process.The tax shift information excludes any 2017 tax rate changes by City Council or the Government of Alberta. Changes inassessed values do not directly correspond to changes in taxes. Tax rate changes are communicated through the budgetaryprocess.2017 property assessment summary of results:Totalaccounts511,328Total alresidential condominiummedianmedianassessment assessment460,000 270,0002017 PROPERTY ASSESSMENT MARKET REPORTi
TABLE OF CONTENTSiIntroduction1About property assessment1TABLE2017assessment/tax timelineOFpropertyCONTENTS2 Information and services available to customersivii32017 property assessment notice5Our commitment72017 city-wide property roll summary8Property type descriptions10Summary comparison of 2016 and 2017 property assessment rolls112017 property assessment summary172016 - 2017 comparison of property assessment rolls212017 city-wide property tax change summary392017 single residential revenue neutral tax change andassessment summary by community472017 residential condominium revenue neutral tax change andassessment summary by community552017 single residential and residential condominium revenue neutraltax change and assessment summary by community2017 PROPERTY ASSESSMENT MARKET REPORT
ABOUT PROPERTYASSESSMENTWhat is property assessment?Property assessment is a value placed on property for taxation purposes. As required by provincial legislation, the 2017property assessment reflects the market value of property on July 1, 2016 and the physical condition and characteristics ofproperty as of Dec. 31, 2016.How we assess propertiesThe City annually assesses property under a market value standard using mass appraisal techniques. To determine themarket value of property, we use one of three approaches, depending on the type of property: sales comparison: comparing to sales of similar properties. income: capitalize the income being generated by the property. cost: land value and the depreciated replacement cost of the improvement.Most residential properties are assessed using the sales comparison approach. For non-residential property assessments,we may use any one of the three approaches. Some property types, such as farm land, are subject to standards other thanmarket value.2017 nt/taxtimeline2017 Property Assessment/Tax TimelineJuly 1,2016Oct. 3,2016Nov. 3,20162017 propertyassessmentvaluation dateNon-residential propertyAdvanced Consultation Period2017 PROPERTY ASSESSMENT MARKET REPORTDec. 31,20162017 physicalcondition ofpropertyon this dateJan 5,2017March 6,20172017assessmentnotice mailingMay20172017tax billmailingJune20172017taxdue dateCustomer Review Period:Jan. 5 - March 6, 20171
INFORMATION ANDSERVICES AVAILABLETO CUSTOMERSCustomer Review Period(Jan. 5 – March 6, 2017)The Customer Review Period provides property owners the opportunity to review their assessment and get their questionsanswered. It spans 60 days from the date of the assessment notice mailing. During the Customer Review Period, propertyowners are encouraged to:CHECK the factual information we have on record for their property.REVIEW their assessment to determine if it’s a reasonable estimate of the market value of their property as of July 1, 2016.COMPARE their assessment with similar properties with similar characteristics in a similar location to ensure equity.We are committed to preparing fair and equitable assessments. If information about a customer’s property needs to bechanged or updated, they should contact us during the Customer Review Period. If this results in a change to the customer’sproperty assessment, an amended assessment notice will be issued. Changes to an assessment will only be considered ifan inquiry is received during the Customer Review Period.Assessment’s customer service line: 403-268-2888Online tools and resourcesThe City offers online tools to help property owners understand and review their assessment.By logging into Assessment Search at calgary.ca/assessment, customers can access details on their property to check andreview the accuracy of the information we have on file, and compare their assessment with other similar properties in theirarea to ensure their assessment is fair and equitable. Property owners can also conduct more in-depth assessment researchand can access sales, community, and property reports.Information about Assessment Search, including how to register, is provided with the assessment notice mailing and onlineat calgary.ca/assessment.We also offer information on calgary.ca/assessment including explanations about the tax and assessment process, assessment roll highlights and a tax calculator to estimate a property’s 2017 tax amount.22017 PROPERTY ASSESSMENT MARKET REPORT
2017 PROPERTYASSESSMENT NOTICE2017 Property Assessment NoticeMailing DateCustomer Review PeriodJanuary 5, 2017Assessed Person Mailing AddressRoll Number123456789January 5 - March 6, 2017Property Description123 ANYWHEREINCALGARY ST SW123LK;11;22IMC 8059 Owner #: 1234567John DoeJane Doe123 ANYWHEREINCALGARY ST SWCALGARY AB X1Y 2Z3Access CodeXXXXXXUse this access code to view additional information aboutyour assessment by logging into Assessment Search atcalgary.ca/assessment.YOUR PROPERTY ASSESSMENTYour 2017 property assessment reflects the estimated marketvalue of your property on July 1, 2016 and the physical condition asof December 31, 2016.460,000Property TypeLand and Improvement(s)Property Assessment ClassTaxable StatusTaxableResidential460,000School SupportDeclaredPublic 100%Your 2017 Property AssessmentMarket value is the most probable price a property would sell for on the open market as of the legislated July 1, 2016valuation date. The assessed value of your property provides the basis for determining your share of property taxes.This is not your tax bill. Your 2017 tax bill, reflecting your actual taxes owing, will be mailed separately.Additional InformationPlease see the reverse for important information.Customer Review Period: January 5 - March 6, 2017Have a question about your assessment? Phone Assessment at 403-268-2888 todiscuss your assessment and/or to provide information that may impact your assessedvalue. All inquiries to Assessment are free of charge and our staff may be able toresolve any concerns without the need to file a complaint.Any changes to your 2017 assessment will only be considered if an inquiry is receivedduring the Customer Review Period.2017 PROPERTY ASSESSMENT MARKET REPORTAssessment Review BoardFinal Date to FileComplaintMarch 6, 2017Complaint Fee 30For information about the Assessment Review Boardcomplaint process, see reverse or visit calgaryarb.ca.3
2017 PROPERTYASSESSMENT NOTICEHow your property assessment is determinedYour property assessment reflects the market value of yourproperty – the amount it would likely have sold for on the openmarket – as of July 1, 2016, adjusted for any changes in physicalcondition recorded by Dec. 31, 2016. Market value is determinedby one of three approaches to value:❯ Sales comparison: comparing to sales of similar propertiesAssessment SearchThe information you need regarding your assessmentand property details is available by securely logging intoAssessment Search at calgary.ca/assessment.❯ Income: capitalize the income being generated by the property❯ Review your property details for accuracy❯ Cost: land value, plus the depreciated replacement cost of theimprovement❯ Search for comparable properties to ensure fairness and equityMost residential properties in Calgary are assessed using the salescomparison approach. Non-residential property assessments mayuse any one of the three approaches. Some property types, suchas farm land, are subject to standards other than market value.Customer Review PeriodIf you have any questions about your assessment, contactAssessment during the 60-day Customer Review Period (datesshown on the front of this notice). Any changes to your 2017property assessment will only be considered if an inquiryis received during the Customer Review Period.Please note: you do not have to file a formal complaint tocontact us.Access to informationYou, as an assessed person, have a right to obtain sufficientinformation to show how your property assessment was prepared,as well as summary assessment information on other assessedproperties for comparison purposes. To obtain this information:❯ Visit calgary.ca/assessment and click on Assessment Search.Detailed information is available if you securely log in, andsummary information is available without logging in. Generalinformation is also at calgary.ca/assessment.❯ Complete and submit an Assessment Information Request(AIR) form to our office. The form is available:❯ Online at calgary.ca/assessment (click the “Forms &publications” link on the right hand side of the page)OR❯ Search for sales of similar properties in your area❯ View your estimated 2017 taxesAlready use the secure portion of Assessment Search?Continue to log in as usual. The access code on the front ofthis notice is only required if you wish to add this propertyassessment account to a new or different myID account or ifthere has been a change in ownership.First-time using the secure portion of Assessment Search?1. Create a City of Calgary myID account.Visit calgary.ca/myid and follow the instructions to createa myID personal account.2. Link your myID account to your property assessmentinformation.At calgary.ca/assessment, select Assessment Search andlog in using your myID username and password. Enter theroll number and confidential access code provided on thefront of this notice.Assessment-related inquiriesTelephone311 (after 4:30 p.m. daily and on weekends)Hearing 403-268-8278MailThe City of CalgaryAssessment (#8002)P.O. Box 2100, Stn. MCalgary, AB T2P 2M5In person*2924 11 St. N.E. Calgary❯ By contacting our office by mail, fax, phone, or in personUpon receipt of the completed AIR form, Assessment will providethe information within 15 days.To file a formal complaint with the CalgaryAssessment Review Board (ARB)If you are considering filing a formal complaint, please firstcontact Assessment at 403-268-2888. Your assessor maybe able to resolve your concerns without the need to filea complaint. You do not have to file a formal complaint tocontact Assessment.If you still disagree with your assessment, you can file a complaintwith the ARB. The ARB is an impartial tribunal that reviews the formalcomplaints of property owners who disagree with their assessment.Visit calgaryarb.ca for more information and/or to file a complaintonline. Complaints must be submitted in the required form, by thedeadline and be accompanied by the complaint fee – as indicatedon the front of this notice.Coordinator, Assessment Review Board (#222)P.O. Box 2100, Stn M.Calgary, AB T2P 2M5403-268-2888 (Mon. – Fri., 8 a.m. – 4:30 p.m.)*Please call first to arrange an appointment.Tax-related inquiriesOnlinecalgary.ca/propertytaxPhone311 or 403-268-CITY(2489) outside CalgaryTax Instalment Payment Plan (TIPP)Onlinecalgary.ca/TIPPPhone311 or 403-268-CITY(2489) outside CalgarySchool supportOnlinecalgary.ca/schoolsupportPhone311 or 403-268-CITY(2489) outside CalgaryMailing address changes – Alberta Land TitlesIn personAlberta Government Services Building2nd floor, 710 4 Ave. S.W. CalgaryOnlineservicealberta.gov.ab.ca (under Forms)403-268-585842017 PROPERTY ASSESSMENT MARKET REPORT
OUR COMMITMENTOur commitment is to ensure fair and equitable assessed values for the purpose of the distribution of taxes.Transparency The City of Calgary’s tax revenues do not increase or decrease based on assessed value changes caused by realestate market fluctuations. Tax changes are communicated through the budgetary process.The revenue neutral process helps explain how an individual property’s taxes have changed due to that property’s year-toyear change in assessment.Each property’s change in taxes, using the revenue neutral tax rate, occurs because the process of assessing propertieseach year results in taxes being re-distributed among properties. As a result of the 2017 assessment, the typical per centchanges in residential and non-residential assessments are -4 per cent and -6 per cent respectively. Compared to the citywide typical per cent change, if a property’s approximate year-to-year per cent change in assessment is:Less than the typical per cent change: That property’s revenue neutral taxes will decrease.The same as the typical per cent change: That property’s revenue neutral taxes will stay about the same.More than the typical per cent change: That property’s revenue neutral taxes will increase.2017 PROPERTY ASSESSMENT MARKET REPORT5
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2017CITY-WIDE PROPERTYROLL SUMMARY2017 PROPERTY ASSESSMENT MARKET REPORT7
PROPERTY TYPEDESCRIPTIONSThis information is provided for high-level purposes only.ResidentialResidential assessment class, as described in the Municipal Government Act, means property that is not classed by an assessoras farm land, machinery and equipment or non-residential.Single residentialAll properties that are single residential dwellings.Residential condominiumsAll properties in the residential assessment class registered under the Condominium Act.Multi-residentialAll properties consisting of four dwelling units or more.Residential vacant landLand that has no improvement and the assessment class is residential.Non-residentialNon-residential assessment class as defined in the Municipal Government Act means linear property, components ofmanufacturing or processing facilities that are used for the cogeneration of power or other property on which industry,commerce or another use takes place or is permitted to take place under a land use bylaw passed by a council, but does notinclude farm land or land that is used or intended to be used for permanent living accommodation.OfficeOffice properties are typically used to maintain or occupy professional or business offices. These properties are designedfor general commercial occupancy, including administrative, government and corporate uses, and are normally subdivided into relatively small units.The term office can refer to whole buildings, floors, parts of floors, and office parks.RetailRetail properties are used for the sale of goods and services. Retail properties typically include shopping centres,attached stores in a row, free standing and restaurants.IndustrialIndustrial properties typically include land and improvements that are used for manufacturing, warehousing, distributioncentres, storage yards, contractors, shops, etc. The improvements typically have limited interior finish.Non-residential vacant landLand that has no improvement and the assessment class is non-residential.82017 PROPERTY ASSESSMENT MARKET REPORT
Other non-residentialProperty types represented by the category of other non-residential: Recreational Accommodation Airport Golf course Parking InstitutionalFarm landFarm land assessment class refers to land used for farming operations. Farming operations means the raising, productionand sale of agricultural products and includes:i) Horticulture, aviculture, apiculture and aquacultureii) The production of horses, cattle, bison, sheep, swine, goats, fur-bearing animals raised in captivity,domestic cervids within the meaning of the Livestock Industry Diversification Act, and domestic camelids;and;iii) The planting, growing and sale of sod.2017 PROPERTY ASSESSMENT MARKET REPORT9
SUMMARY COMPARISONOF 2016 AND 2017 PROPERTYASSESSMENT ROLLS1020162017Total assessment value summary (taxable and non-taxable)309,191,600,000303,035,100,000Total number of assessable properties(taxable and non-taxable)498,874511,328Single residential median assessment480,000460,000Residential condominium median assessment280,000270,000Typical residential market value change-1%-4%Typical non-residential market value change-4%-6%2017 PROPERTY ASSESSMENT MARKET REPORT
2017PROPERTY ASSESSMENTSUMMARY2017 PROPERTY ASSESSMENT MARKET REPORT11
2017 PROPERTYASSESSMENT SUMMARY2017 Property Assessment Summary by Assessment ClassAssessment classNumber of accountsAssessed 3,70970,051,000,000Farm tialNon-residentialTotal assessment summaryResidentialNon-residentialFarm land122017 PROPERTY ASSESSMENT MARKET REPORT
2017 PROPERTYASSESSMENT SUMMARYRepresenting the total account summary, these graphs show: Residential properties represent 95 per cent of the total number of property assessment accountsand 69 per cent of the total property assessment value. Non-residential properties represent five per cent of the total number of property assessmentaccounts and 31 per cent of the total property assessment value.Number of 2017 property accounts in the city of Calgary by assessment class(displayed as a percentage)Assessed value of 2017 property accounts in the city of Calgary by assessment class(displayed as a percentage)2017 PROPERTY ASSESSMENT MARKET REPORT13
2017 PROPERTYASSESSMENT SUMMARY2017 Taxable Property Summary by Assessment ClassAssessment classNumber of accountsAssessed value485,852208,255,800,000Single residential311,410160,134,000,000Residential ,0749,225,100,000Residential vacant al5,07215,702,700,000Non-residential vacant land1,9103,577,800,000Other ntialFarm landAgriculturalTotal taxable accounts142017 PROPERTY ASSESSMENT MARKET REPORT
2017 PROPERTYASSESSMENT SUMMARY2017 Non-Taxable Property Summary by Assessment ClassAssessment classResidentialNumber of accountsAssessed value1,7852,194,200,000Single residential476220,200,000Residential ,100,000Residential vacant 000Non-residential vacant land7,2715,816,700,000Other ,000Non-residentialTotal non-taxable accounts2017 PROPERTY ASSESSMENT MARKET REPORT15
2017 PROPERTYASSESSMENT SUMMARY2017 taxable residential and non-residential property assessment distribution byassessed valueNon-residentialvacant land (1%)Industrial (6%)Retail (6%)Other non-residential (2%)Office (10%)Residentialvacant land (1%)Multi-residential(3%)Residential condominium (13%)16Single residential (58%)2017 PROPERTY ASSESSMENT MARKET REPORT
2016 - 2017COMPARISON OF PROPERTYASSESSMENT ROLLS2017 PROPERTY ASSESSMENT MARKET REPORT17
2016 -2017COMPARISON OF PROPERTYASSESSMENT ROLLSNumber of Taxable Properties by Assessment Class2016(original roll)2017(original roll)% change473,702485,8523%Single residential308,
Online at calgary.ca/assessment (click the “Forms & publications” link on the right hand side of the page) OR By contacting our office by mail, fax, phone, or in person the information within 15 days. To file a formal complaint with the Calgary Assessment Review Board (ARB) If you are considering filing a formal complaint, please first
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review and understand your assessment without the need to file a complaint with the Assessment Review Board. For more information, see reverse and visit calgary.ca/assessment. Use the above roll number and access code to view additional assessment information by logging into Assessment Search at calgary.ca/assessment. 445,000
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