Making Sense of your Property Tax Assessment

Posted by Kevin Leung on Thursday, February 19th, 2015 at 12:41pm.

YYC Taxes

Most likely, you've already received your property tax assessment from the City of Calgary. Although the City doesn't have enough staff to look at every house, it bases the assessment on several key things such as age, size, layout, traffic noise, proximately to things like schools, etc. Here are some helpful tips for better understanding your assessment.

What is it?

This assessment makes sure the value of your home reflects how much tax you have to pay on it. So in other words, the assessment places a dollar value on your home for tax purposes.

Why did I see an increase or decrease from last year?

Your property assessment should reflect how the overall market did last year. If houses in your neighbourhood didn't sell as well as they did the year before, you'll see a decrease in your assessment. Also, if you did any upgrades on your house to make it bigger, better or more complete, this will cause your assessment to increase.

What if I don't agree with my assessment?

You can not file an appeal, but you can file a complaint with the Assessment Review Board if you think the value of your home was not assessed fairly or accurately. Just remember, even if you file a complaint, you still have to pay your taxes on time or you'll be penalized.

How do I pay my property taxes?

Your property tax payments are mailed out on May 23 and are due by June 30. The City of Calgary allows you to pay in multiple ways, including in person, online banking, credit card or cheque. If you don't want to have the financial burden of paying all at once, you can set up a Tax Installment Payment Plan (TIPP), which allows you to pay monthly.

To request an application to join TIPP, visit http://www.calgary.ca/CA/fs/Pages/Property-Tax/Property-Tax-Payment.aspx

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