Its' that time of year again! What you need to know about your 2025 Property Tax Assessment
If you live in Calgary or Edmonton, there’s both good and bad news when it comes to your property’s assessed value this year.
The good news? Your home has likely appreciated over the past two years.
The not-so-good news? If your property’s value has increased more than the citywide average, you could see a larger-than-usual jump in your property taxes.
Understanding Your Property Assessment
By now, your 2025 property assessment should have arrived. Here’s what you need to know:
Assessment Date: Your home’s estimated value is based on market conditions as of July 1, 2024.
Condition Date: Assessed value also considers your property’s characteristics as of December 31, 2024.
Your final tax bill is determined by:
Your property’s assessed value.
The tax rate set by City Council for the year.
Reminder: Your assessment is NOT the same as your home’s current market value. If you're curious about what your home is truly worth in today’s market, reach out your real estate agent!
This year, City of Calgary assessed property values have increased by an average of 14% and in the City of Edmonton, an increase pf 6.1%. However, this does NOT mean your property taxes will rise by 14%. To estimate your actual tax amount, you can use the City Property Tax Calculator.
Check with your individual municipality for more information, but here are some helpful links for Calgary & Edmonton
Key Dates to Remember City of Calgary:
Jan. 10 – March 21, 2025: Customer Review Period (if you want to dispute your assessment).
May 2025: Property tax bills are mailed out.
June 30, 2025: Property tax payment deadline.
Estimate Your Property Taxes – https://www.calgary.ca/property-owners/taxes/calculator.html?utm_source=chatgpt.com
Review or Dispute Your Assessment –Calgary Assessment Review Board
Key Dates to Remember City of Edmonton:
Jan. 10 – March 19, 2025: Customer Review Period (if you want to dispute your assessment).
May 2025: Property tax bills are mailed out.
June 30, 2025: Property tax payment deadline.
Estimate Your Property Taxes – https://taxestimator.edmonton.ca/?utm_source=chatgpt.com
Review or Dispute Your Assessment –Assessment Review Board | City of Edmonton