2009 Calgary Property Assessments are out.

The City of Calgary have mailed out the 2009 property assessments to Calgary home owners on January 2nd, 2009. The city says 33% of the property owners will see an increase in their property assessments over their 2008 assessment.

The average assessed price of a single family home in 2009 is $427,500, down from $447,500 in 2008. Condominiums are also down to $278,500 from $291,500 in 2008.  The city base these assessments on the Calgary Real Estate numbers from July 1st, 2008. Assessments reflect the market value of similar properties in neighbourhoods.  Search for your property assessment online here

Calgary home owners have until February 2nd, 2009 to review their notices. If there are any discrepancies, home owners can appeal their assessments with the city by going to the City's Website or by calling the Assessment Customer Service Centre at 403.268.2888 or 311 after regular business hours. City of Calgary Assessment information click here.

Some home owners use the City of Calgary assessment to determine the value of their home when they go to sell. Property sellers have to be aware that there are many factors that go into selling a home and one has to compare current active, pending and recent sold properties comparable in size, features, location and current market conditions to determine the value of the property that is going to be sold. Currently there are many properties that are selling considerably below city assessed values so don't rely on the City Assessment values if you are looking to sell or buy Calgary Real Estate.

If you wish to determine the current value of your Calgary property outside of the City of Calgary's Assessment, Click here.

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