2025 property assessment notices are on their way; Customer Review Period begins

Today, The City of Calgary mailed more than 595,000 annual 2025 property assessment notices and opened the Customer Review Period, which runs until March 21, 2025.

2025 Assessment Roll

The 2025 property assessment values are based on a July 1, 2024 market valuation date and the property’s physical condition on Dec. 31, 2024. The total value of the 2025 Assessment Roll is $442 billion, an increase of $55 billion from last year. Overall, the typical residential property market value change is a 15 per cent increase over the previous year, while the typical non-residential market value change is three per cent. The 2025 median single residential assessment is $697,000, compared to $610,000 in 2024. The 2025 median residential condominium assessment is $359,000 compared to $295,000 in 2024.

When property assessments arrive, most homeowners will notice an increase in their property values compared to last year, driven by vigorous sales and strong market demand. Calgary’s housing market continues to thrive, with robust sales reflecting sustained confidence in the city’s real estate market.

”The most significant property value increases are seen in residential condominiums,” says Eddie Lee, City Assessor/Director of Assessment & Tax. “This property type has been particularly attractive due to strong demand for lower priced housing options in the residential market.”  

This year, we’ve introduced enhancements to property assessment notice to provide more valuable information and foster greater transparency. Key updates include:

• The property’s typical change compared to the typical change for its assessment class (residential or non-residential).
• The property’s last three assessments, offering a historical perspective of changes over time.

2025 Property Assessment Roll Key Findings

• In 2025, The City of Calgary mailed approximately 595,000 Assessment Notices, including more than 65,000 Assessment eNotices, to Calgary property owners.
• The total value of the 2025 Assessment Roll is $442 billion, an increase of $55 billion in value from last year. 
• The typical market value assessment change between this year and last year is 15 per cent for residential properties and three per cent for non-residential properties.
• The 2025 median single residential assessment (excluding condominiums) is $697,000 compared to $610,000 in 2024. 
• The 2025 median residential condominium assessment is $359,000 compared to $295,000 in 2024.
• Approximately 90 per cent of revenue neutral taxes from residential properties will stay within 10 per cent of last year’s tax.
  • Overall, residential properties increased by 15 per cent. 
  • Single residential homeowners experienced value increases of 14 per cent from last year. Detached home demand continues with increased migration driving property values especially in suburban communities. 
  • Residential condominiums experienced a 22 per cent increase as new buyers entered or moved into Calgary’s real estate market. 
  • The multi-residential market experienced a typical increase of 10 per cent.
• Approximately 80 per cent of non-residential properties’ revenue neutral taxes will stay within 10 per cent of last year’s tax.
  • Overall, non-residential properties increased by three per cent.
  • Industrial property values increased by five per cent, which demonstrates the stability and strength of this property type. Industrial properties continue to outpace the other non-residential properties due to the sustained demand as Calgary remains a major distribution hub.
  • Office properties values had a two per cent market value change. Calgary’s Downtown office market, the main driver of the office inventory, continues to show resiliency.
  • Retail property values increase by two per cent and continue to exhibit vibrancy and strength with new businesses filling vacant spaces quickly, which results in higher rental rates and value increases.

2025 Customer Review Period

The Customer Review Period is an important time for property owners to check, compare, and review their assessment for accuracy, fairness, and equity. To do so, property owners are encouraged to take the time to visit calgary.ca/assessment to access our secure online Assessment Search tool to review their residential property details and property market trends report, compare their property with other similar properties, and sign up for eNotice.

Ask the City Assessor

The popular Ask the City Assessor event has been rescheduled from January 14 to Tuesday, January 21, 2025, 7 to 8 p.m., due to delays caused by the Canada Post labour disruption.

Signing up for eNotice

The City is encouraging property owners to sign up to receive their property assessment notices electronically via their secure Assessment Search account. This initiative helps reduce the costs associated with printing and mailing the notices and mitigates the reliance on mail delivery services.

Assessment Changes and Budgeted Tax Implications

Annual property assessments are integral to The City’s tax process. Knowing how property assessments work and how they are prepared can help property owners anticipate their tax responsibility, well before tax bills are mailed in May 2025.

Through the annual assessment process, tax responsibility is re-distributed among properties based on the extent to which values change relative to other properties in their assessment class. This year, the median assessed single residential home increased from $610,000 in 2024 to $697,000 in 2025. With The City budgetary changes and the 1 per cent tax shift from non-residential to residential properties, this will result in an estimated increase of $11.74 per month or 5.5 per cent to the 2025 municipal property tax. The change from the estimated $8.37 per month increase in November is a result of finalizing the assessment roll.

The median assessed residential condominium increased from $295,000 in 2024 to $359,000 in 2025. With The City budgetary changes and the 1 per cent tax shift from non-residential to residential properties, this will result in an estimated increase of $12.77 per month or 12.4 per cent to the 2025 municipal property tax. The change from the estimated $11 per month increase in November is a result of finalizing the assessment roll.

While the typical year-over-year overall assessment change for residential properties is 15 per cent, the typical single residential properties change is 14 per cent, residential condominiums is 22 per cent, and multi-residential is 10 per cent.

The typical assessment change for non-residential is three per cent with industrial properties at five per cent, retail at two per cent and office at two per cent.

It is important to note that each property’s tax change will vary. To get an early estimate of your property tax bill, please use the property tax calculator.

Tax Instalment Payment Plan (TIPP) January to June payments

TIPP participants received a recalculation notification in December 2024 or will receive one in January, updating their 2025 monthly tax instalments. These payments include Council’s November budget decisions that resulted in an overall 3.6 per cent property tax increase in which homeowners will see a 5.5 per cent property tax increase and businesses a 1.4 per cent increase. When the 2025 property tax bill is mailed in May, July to December instalments are reviewed again to ensure participants pay no more or less than their annual tax bill. At that time property assessment changes will be included as well as any other tax adjustments necessary.  TIPP participant’s property tax bill amount is paid in full after the Dec. 1 instalment in 2025.

For more information, please visit calgary.ca/assessment

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Background

Property assessments are based on the market value of a property and is used to calculate each property owner’s share of tax.

2025 Assessment & Tax Key Dates