On January 10, 2025, the City of Calgary mailed more than 595,000 property assessment notices, including more than 65,000 eNotices, and opened the Customer Review Period, which runs until March 21, 2025.
Calgary median assessed value, 2024 vs 2025
Key findings
- Values are based on a July 1, 2024 valuation date and the property’s condition on December 31, 2024.
- The assessment roll is worth $442 billion, up $55 billion.
- The typical residential value rose 15%; non-residential rose 3%.
- Single residential homes rose 14%, condominiums 22% and multi-residential 10%.
- The median single residential assessment is $697,000 (from $610,000), and the median condo is $359,000 (from $295,000).
- About 90% of residential properties’ revenue-neutral taxes will stay within 10% of last year’s tax.
City Assessor Eddie Lee said condominiums saw the largest increases because of strong demand for lower-priced housing.
What owners should do
Compare your value with recent sales of similar homes nearby. If it looks wrong, contact the City before March 21, 2025. Your 2025 tax depends on how your change compares with the typical 15%.
Compared with last year
In 2024, the median single residential assessment was $610,000 and the median condo $295,000, and the typical condo value rose 17%. This year the median single residential value is up $87,000 to $697,000, and the median condo is up $64,000 to $359,000. Condos again had the largest increase, at 22%, well above the 14% for single residential homes. The Customer Review Period also runs later, to March 21 instead of March 11 last year.
Why values rose
The values reflect the market on July 1, 2024. CREB reported that prices rose steeply in the spring of 2024, when supply was very low, and stabilized in the second half of the year. The City says detached demand continued, with increased migration driving values especially in suburban communities, and that condos rose as new buyers entered or moved into Calgary’s market. Among non-residential properties, industrial values rose 5%, office 2% and retail 2%.
What it means for your tax bill
An assessment does not set your tax by itself. Taxes are shared among properties based on how each value changed compared with the typical change in its class. If your home rose about 15%, close to the typical residential change, your share stays roughly the same. Condo owners whose values rose 22% may carry a larger share of the residential tax. The City says about 90% of residential properties’ revenue-neutral taxes will stay within 10% of last year’s tax.
New on the notice
This year’s notice shows the property’s typical change compared with the typical change for its class, and the property’s last three assessments, so owners can see the trend over time.
What it means for buyers and sellers
An assessment is not a listing price. It reflects market value on July 1, 2024, and the market has moved since then. Sellers should price based on recent sales, while buyers can use the assessment history to compare homes and estimate future taxes.
Practical takeaways
Check the property details on your notice, such as size and features. Use the City’s Assessment Search tool at calgary.ca/assessment to compare your home with similar properties and read the market trends report. If you disagree with the value, contact the City before March 21, 2025.
The bigger picture
The City mailed about 595,000 notices, including more than 65,000 eNotices. The total assessment roll is worth $442 billion, up $55 billion from last year. Non-residential values rose a typical 3%, and about 80% of non-residential properties’ revenue-neutral taxes will stay within 10% of last year’s. The City said industrial properties continue to outpace other non-residential types because Calgary remains a major distribution hub, and that the downtown office market continues to show resiliency.
