Calgary Property Assessments

(January 30, 2007)  The City of Calgary mailed out 2007 Calgary Property Assessments yesterday, and posted the revised current market assessments online today (click link below to view assessments):

Calgary Property Assessments

Your 2007 property taxes will be based on these assessments, and depending on how much they've increased from last year, you may or may not be paying more property taxes:

• If your assessment is less than 43% higher than last year, your taxes should be less than in 2006
• If your assessment is about 43% higher than last year, your taxes should remain the same
• If your assessment is greater than 43% higher than last year, your taxes are likely going to increase

Areas with the…

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McKenzie Towne Highrise

Jan 30, 2007: More than 100 residents of McKenzie Towne attended a town-hall meeting last night to discuss a proposal made by a developer to re-zone a tract of land in the area and build high-rise condos.

Carma Developers had originally applied for building permits to construct low-rise condos in the north end of McKenzie Towne, near 130th Avenue & 52 Street SE. City planners turned down the application and suggested Carma apply for re-zoning of the RM5 (medium density) lands to RM7 (high density). The rationale is that the city needs more high-density property.

If re-zoning is approved, Carma has plans to build 17 storey high-rise condo towers rather than the low-rise condos that exist nearby.

Residents attending the meeting…

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 Your weekly update of the Calgary MLS® Sales Stats

Calgary MLS® Market Stats for Jan 01 thru Jan 23/07

 

Calgary Market Stats

Single Family 2007 2006 Average Selling Price $412,809 $320,122 Median Selling Price $367,000 $285,222 New Listings 2,051 1,514 Sales 1,162 1,188 Sales to New Listing Ratio 57% 78% Sales to Active Listing Ratio 42% … Read Full Post

Calgary Building Permits Set Record

Jan 16, 2007: Calgary building permits issued in 2006 for residential & commercial projects totalled $4.76-Billion, smashing the previous year's record and more than doubling Calgary's 2002 total. Calgary's surge in construction outpaced all other cities in the country, beating permits in Toronto by more than $1-Billion.

Toronto OK'd $3.7-Billion in permits last year, followed by Edmonton at $2.3-Billion and Vancouver at $2.03-Billion.

Calgary issued residential permits for just under 16,000 units worth $2.38-Billion, with another $2.38-Billion for commercial development. This does not include the new Encana office project, estimated to be worth $1-Billion.

Calgary Mayor Dave Bronconnier said the city of Calgary…

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Britannia Home Burns to Ground

Jan 12, 2007 - A luxury home in SW Calgary's upscale Britannia neighbourhood burnt to the ground shortly after 4pm Friday afternoon. Coincidentally, I was a mere block away dropping my daughter off at home when the house erupted into flames.

The property, on Madison Ave SW, was a total loss, with damage estimated to be close to $3 million. Former Calgary Mayor Al Duerr says he came home after work today to find fire crews surrounding his and his neighbour's homes. Duerr's home suffered some damage.

No one was hurt in the blaze, and investigators are still looking into the cause.

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 Your weekly update of the Calgary MLS® Sales Stats

Calgary MLS® Market Stats for Jan 01 thru Jan 09/07

 

Calgary Market Stats Single Family 2007 2006 Average Selling Price $392,927 $299,694 Median Selling Price $358,000 $272,000 New Listings 764 521 Sales 340 262 Sales to New Listing Ratio 45% 50% Sales to Active Listing Ratio 12% n/a … Read Full Post

Calgary Mortgage Rates

Term Bank Rates Preferred Rates 6 Month 6.20% 5.75% 1 Year 6.40% 4.99% 2 Year 6.40% 4.99% 3 Year 6.40% 5.10% 4 Year 6.40% 5.10% 5 Year 6.45% 5.04% 7 Year 6.80% 5.43% 10 Year 7.05% 5.60% … Read Full Post