2015 assessment notices mailed

It's a busy mail day for the City of Calgary as they're mailing more than half a million property and business assessment notices.

Today also marks the start of a 60-day customer review period.

"We are committed to delivering fair and equitable assessments and encourage all property and business owners to carefully review their assessment and contact us during the customer review period if you have any questions of concerns," said Nelson Karpa, director and assessor with the City. Changes to the 2015 assessments can only be made if an inquiry is received during the Customer Review Period which runs from Jan. 5 to March 6, 2015.

The 2015 median single residential assessment is $475,000 compared to $430,000 in 2014. The 2015 median residential condominium assessment is $290,000 compared to $260,000 in 2014.

As required by provincial legislation, the 2015 property assessments reflect the market value of property as of July 1, 2014 and the physical condition as of Dec. 31, 2014. The 2015 business assessments reflect the typical net annual rental value of premises as of July 1, 2014.

The Assessment Search website offers tools and resources to help property and business owners review their 2015 assessment. The Assessment Notice provides a unique Access Code to securely log in to Assessment Search.

In 2015, an additional 10 per cent of business tax revenues will be transferred to and collected through the non-residential property tax as part of the business tax consolidation process. This will result in a total 20 per cent decrease to the 2015 business tax rate. Incremental revenue transfers will occur annually until 2019, culminating with the elimination of the business tax.

More information is available here: http://calgary.ca/PDA/Assessment/Pages/Business-tax-consolidation.aspx?redirect=/btc

Tagged: Calgary | Calgary Community | Tax Assessment