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.