Calgarians receive 2023 property tax bill – Calgary

More than 565,000 Calgary residents will receive their appraisal report in the coming days. The City of Calgary said they sent out the 2023 notices Wednesday morning.

In a press release, the city said property appraisal values ​​this year are based on a market valuation date of July 1, 2022, and the property’s physical condition as of December 31, 2022. The total value of the appraisal roll for 2023 is $351.7 billion – an increase of $38.2 billion from 2022.

“Overall, the typical change in market value for residential properties was a 12 percent increase over the previous year, while the typical change in market value for non-residential properties was two percent,” the press release said.

The median appraisal for a single residence in 2023 is $555,000 compared to $485,000 in 2022. Meanwhile, the median appraisal for a residential condo in 2023 is $255,000 compared to $235,000 last year.

“The key findings of the assessment roll highlight that from July 2021 to July 2022, the Calgary real estate market reflected strength, resilience and growth, particularly in the single-home, multi-home, industrial and retail markets,” said Eddie Lee, the assessment director of the city. and tax said.

The customer review period runs until March 13, 2023, and the city said it’s important that Calgarians take the time to check their review not only for accuracy, but also for fairness and fairness.

Property owners are encouraged to take the time to consider the search review on the city’s website to view details of their properties and property market trends; compare their property to other similar properties and sign up for electronic notices (eNotice) – a way to help the environment by getting your review online.

“The customer review period is one of our top priorities,” added Lee. “During this time, our team is fully committed to answering any questions that Calgary residents and businesses may have about their review message.”

The city also announced an initiative to allow more Calgarians to go paperless in an effort to help save time, trees and tax dollars with a contest. From the beginning of January to the end of March, people who choose to sign up to go paperless will have a chance to win one of 12 gift cards. For full information on the competition and how to enter, visit the city’s website Go Paperless contest website.

For a full list of the city’s key findings, click here.

What new homeowners need to know

Getting the appraisal in the mail can be confusing for some first-time home buyers, but Lee recovered by looking at it line by line will help people become more familiar with the information being shared.

“The first thing someone should do is look at the information on the post, including the appraised value, and see if that value matches what you think your property would have sold on July 1, 2022,” Lee said.

He explained if something is wrong or if anyone would like more information, to log on to the assessment search on the city’s websiteand view the property details used to value the property.

“If that data (does not) match… you can update that information directly online. Another thing you can do online is check reviews of other similar properties to see if your property is being assessed fairly and equitably, and also look at market sales that would have taken place in the same area to show that the value of your house has been correctly assessed.”

Lee said this will also help new homeowners get a good idea of ​​what their future property taxes could be next spring. He said people can take the information from their assessment and put it into another of the city’s tools — hair wealth tax calculator — to then have an estimate of the amount provided.

“I stress the word estimate, though, as we also rely on the county government to finalize their budget, their side of the equation, before the property tax statutes are finalized in the spring and the tax bills are sent out in May,” explains Lee from.

From there, he said fees would be due at the end of June.

In the meantime, realtor and CEO of Red Line Realeste said with Real Broker Darren Langille, with the expectation of inflated numbers in certain regions in the city, it’s best to revise your assessment as Lee advised, but also don’t be afraid to get out to challenge what the city has plotted.

“Who should worry about this number being bigger, if you think it’s completely out of touch with reality,” Langille said, also echoing what Lee said earlier about spring property taxes.

“If for some reason it looks like it’s much bigger, it’s going to cost you more to just operate the house and then you’d probably want to submit one of these assessments,” he said.

“We as agents often do this to try and justify whether the number the city provided is correct, or you know what. It might be time to go through that review process.”

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