The City of Calgary says residential property assessments conducted last year saw a 12 per cent increase from the year prior.
The assessments are used to determine property and business taxes, and are based on the market value of property as of July 1, 2022, and the physical condition as of Dec. 31, 2022. According to the city, the median assessment for a single residential home in 2023 is $555,000, compared to $485,000 in 2022.
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