Property assessments are completed on an annual cycle using the market value standard for property. In determining non-residential property assessment, The City of Airdrie considered all three approaches to value, depending on the type of non-residential property:
- Sales Comparison Approach - sales of similar properties.
- Income Approach - capitalize the income being generated by the property using a capitalization rate.
- Cost Approach - market value of land plus the depreciated replacement cost of the improvement.
The City of Airdrie has also reviewed the following:
- Industry publications in support of the valuation parameters.
- Post facto sales for trending purposes.
- Non-residential sales from surrounding municipalities.
View your current Assessment Notice with MyAirdrie
- Non-Residential Sales (pdf)
- Commercial Assessment Parameters (pdf)
- Industrial Assessment Parameters (pdf)
- Hotel/Motel Assessment Parameters (pdf)
- Multi-Family Assessment Parameters (pdf)