Non-residential property assessment

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