Calgary property owners brace for tax assessments

The city of Calgary made its property assessments public Tuesday, and many homeowners want to know why, if the local economy is plunging, the perceived value of their homes isn't as well.

See Full Article

While Calgary homeowners wait to receive their property assessments in the mail, many residents like Ed Cocciardi, who lives in the Tuscany area of Calgary, have already checked online for their assessments.

Cocciardi said he was surprised when he saw his assessment.

"When I checked online, my house was far and above everybody else's, which it really shouldn't have been," he told CTV Calgary, explaining that he may file an appeal.

Nelson Karpa, an assessor with the city of Calgary, said the figures are based on the assessed value of homes on July 1, 2015.

"The way to think about it is, 'What would my property have sold for on July 1, 2015?'" he explained. "And that's really what we're trying to capture in the 2016 assessment notice."

But many residents point out that a lot has changed in the local economy in the last six months as the plunging price of oil has seen the price of homes in the area drop too.

Cocciardi said it's frustrating, because city residents already pay a lot in taxes.

"I think we pay well and enough taxes in Calgary already," he said.

The city says that current real estate values will be reflected in next summer's assessment.

Karpa said overall, the assessments are good news considering the state of the provincial economy.

"We saw a small number of extremely high value properties drop significantly, but the bulk of our assessment base – being moderately priced properties and lower value properties – actually maintain and slightly increase their value," he said.

The city said a typical family will see a one to two per cent drop in this year's assessment compared to last year. The biggest increase will be seen by those who own condos or industrial properties. The biggest decrease will be seen by those with high value homes and downtown office spaces.

With a report from CTV Calgary's Chris Epp



Advertisements

Latest Canada & World News

  • Ont. teen subject of Amber Alert wasn't actually abducted, police say

    Canada News CTV News
    MISSISSAUGA, Ont. - Police in Peel Region west of Toronto say a 15-year-old girl who was the subject of an Amber Alert on Monday was not kidnapped as initially suspected. The alert had cited witnesses as saying the girl had been forced into a van in Mississauga by two men. Source
  • Okla. shooting victim saved by plate in neck: investigators

    World News CTV News
    TAHLEQUAH, Okla. - Investigators say a metal plate in an Oklahoma man's neck saved him from paralysis or worse when he was shot. Robert Thurman told 911 dispatchers Friday that his sister Gretchen Thurman shot him, The Tahlequah Daily Press reported. Source
  • South Korean court denies request to arrest Samsung Group chief

    World News CBC News
    A South Korean court on Thursday denied a special prosecutor clearance to arrest the head of Samsung Group, the country's largest conglomerate, amid a graft scandal that has led to the impeachment of President Park Geun-hye. Source
  • Virginia man who killed noted musician and his family is executed

    World News CBC News
    Virginia has executed a man convicted of killing two young girls and their parents during a New Year's Day home invasion more than 11 years ago. Authorities say 39-year-old Ricky Gray was pronounced dead at 9:42 p.m. Source
  • Alaska volcano erupts again, sends ash cloud to 31,000 feet

    World News CTV News
    ANCHORAGE, Alaska - An Alaska volcano active since mid-December has erupted again. Bogoslof Volcano in the Aleutian lslands erupted at 1:20 p.m. Wednesday and sent up an ash cloud estimated at 31,000 feet. The Alaska Volcano Observatory raised the aviation threat code to red, the highest level. Source
  • Hardworking Winnipeg server gets life-changing $1,000 tip

    Canada News CTV News
    A Winnipeg restaurant server thought one of her customers was out to lunch when she received a life-changing $1,000 tip on Saturday. Jennifer Peitsch choked back tears of joy as she asked if the woman’s extravagant gratuity on an $87.15 meal at Mongo’s Grill was indeed real. Source
  • Dramatic video shows two armed robberies in central Alberta

    Canada News CTV News
    Two separate, but equally frightening, armed robberies were caught by surveillance cameras in central Alberta. During the past month there have been a number of armed robberies in the area, which are being investigated by RCMP. Source
  • So long from White House: Obama aims final messages at Trump

    World News Toronto Sun
    WASHINGTON — Barack Obama stepped behind the White House podium for the last time Wednesday, fielding questions from the crush of journalists crammed in for the occasion and offering assurances to Americans watching on TV. But at times, his answers seemed aimed at an audience of one: the man who will replace him at noon Friday. Source
  • PM Trudeau should protect Kathy Katula from trolls: Tory MP

    Canada News Toronto Sun
    Justin Trudeau must protect real Canadians like Kathy Katula from Liberal trolls and haters, a Conservative MP says. Carleton MP Pierre Poilievre came to the aid of Katula — the 54-year-old Buckhorn, Ont. grandmother who made headlines for her emphatic plea to the PM to not pile the carbon tax onto her as she’s already towing the poverty line — and said Trudeau needs to as well. Source
  • WikiLeaks' Julian Assange backs away from extradition pledge

    World News CTV News
    PARIS -- WikiLeaks founder Julian Assange retreated from his pledge to accept extradition to the U.S. if Chelsea Manning was granted clemency, arguing Wednesday via his lawyers that what he was really asking for was an immediate pardon for the ex-Army analyst. Source