2018 Property Assessments

[troutman]

House in West Hillhurst up 10% in 3 years.

[Nufy]

Approx 5% increase from last year. Deer Ridge SE Calgary.

Probably due to the new deck I had installed last fall.

[Wormius]

Up almost 6% in Hidden Valley.

So is this the City's attempt to make up for the lower increase in the property tax rate?

[AC]

Our Woodbine townhouse jumped up 8.3%. Though it had dropped way too much the previous 2 years, 5% and then another 7.5%.

It's still about $30k too low.

[Mass_nerder]

Originally Posted by northcrunk

Did all condos in the city drop in value?

Mine went up by about 5%

[BKQ]

Up 12% in rosedale.

[troutman]

Originally Posted by BKQ

Up 12% in rosedale.

Don't be sad - didn't you just make something like $100K in home equity in one year?

[BigNumbers]

3% increase in Aspen Estates.

[eddly]

Increase of 0.11% in Mahogany. Still have empty lots on my street so I suspect that is keeping the assessment low (which is great!). I win.

[Mr.Coffee]

Are these values supposed to reflect the real estate market?

If so I’m not sure how there are increases anywhere? I’m not sure prices are rising in Calgary lately. From what I understand the supply of homes in market is quite high no?

[OMG!WTF!]

Originally Posted by Mr.Coffee

Are these values supposed to reflect the real estate market?

If so I’m not sure how there are increases anywhere? I’m not sure prices are rising in Calgary lately. From what I understand the supply of homes in market is quite high no?

Assessments reflect the market during the last year. So it's more accurate as an estimate of what your house was worth six months ago. And also, you know what they say about assessments...they make an ass out of men and some other random letters.

[Simanium]

Sunnyside Condo - Down about 10%

[BsFaninCGY]

We closed on our house in the last week of June. Part of the process was the bank wanting an assessment - that happened mid June. I see the City assessment is for only 2 weeks later, and it is roughly $30k less than what the bank said. What gives? We have no plans on selling or accessing any equity soon, but should this concern me?

[FLAME ENVY]

Originally Posted by OMG!WTF!

Assessments reflect the market during the last year. So it's more accurate as an estimate of what your house was worth six months ago. And also, you know what they say about assessments...they make an ass out of men and some other random letters.

It's more for taxation purposes and not actual market value which most often differs. True market value, as in what someone else would pay for your home is usually higher than the city assessment.

[InglewoodFan]

5% up in Chinook Park. There have definitely been some sales at surprising numbers in the past year.

[topfiverecords]

Originally Posted by BsFaninCGY

We closed on our house in the last week of June. Part of the process was the bank wanting an assessment - that happened mid June. I see the City assessment is for only 2 weeks later, and it is roughly $30k less than what the bank said. What gives? We have no plans on selling or accessing any equity soon, but should this concern me?

Preferably you want a city assessment of $1 and a bank assessment of $1M.

[BsFaninCGY]

Originally Posted by topfiverecords

Preferably you want a city assessment of $1 and a bank assessment of $1M.

That's what I was thinking, but as a first time home buyer I got a little worried briefly.

[J pold]

~5% increase for detached home in Ramsay.

[CETokyo]

Lakeview detached up 6.24%

[gladaki]

+7.8 percent up in riverbend