As a Calgary realtor, I know that property taxes are a major consideration for homeowners and buyers alike. Understanding how these taxes are calculated and how you can appeal your assessment if necessary is key to making informed real estate decisions. Let’s break it down.
What Is the Mill Rate and How Does It Affect Your Property Taxes?The mill rate is the tax rate applied to your property’s assessed value to determine how much you owe in property taxes. Essentially, it’s the amount you pay per $1,000 of assessed value. The City of Calgary sets this rate annually based on budget needs.
For 2025, Calgary has announced a 5.5% increase in residential property taxes, meaning homeowners will see their tax bills rise. If you're planning to buy or sell, understanding how this impacts affordability is crucial.
Should You Appeal Your Property Assessment?Every year, the City of Calgary sends out property assessment notices. If you believe your assessed value is incorrect, you have 67 days from the date of your notice to request a review during the Customer Review Period. You can contact the city’s assessment department at 403-268-2888 to discuss your assessment for free.
If you still believe your home’s value is inaccurate after the review, you can file a formal complaint with the Calgary Assessment Review Board (ARB). Keep in mind, this process costs $30 to $650, depending on your property type and assessment value. If your appeal is successful, this fee will be refunded. You can file your appeal at calgaryarb.ca.
However, an appeal is only worth your time if there’s a significant discrepancy between your assessed value and actual market value. A small difference won’t justify the effort and fees involved.
How Property Value Changes Impact TaxesTo give you a clearer picture of how an increase in assessed value affects your tax bill, here are some examples using Calgary’s 2024 mill rate of 0.0064861:
Assessed Value IncreaseAdditional Tax Owed$50,000$324.31$100,000$648.61$150,000$972.92If your property’s assessment is overinflated by $100K, that could mean hundreds of extra dollars in property taxes. That’s when an appeal might make financial sense.
Final Thoughts for Homeowners and BuyersWhether you're looking to buy, sell, or invest in Calgary real estate, staying informed about property taxes can save you money. If you have questions about how your assessment affects your home’s value or your buying power, reach out—I’d be happy to help you navigate the Calgary real estate market!
For more details on assessments and appeals, visit the City of Calgary’s Property Assessment page.
If you would like to discuss your properties assessed value with a professional, give my self - Tamara a call 403-477-5120, or Nika at 587-894-9050.
