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Non-residential assessments

Property assessments are completed on an annual cycle using the market value standard for property. In determining non-residential property assessments, The City of Airdrie considers 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 also reviews the following:

  • Non-residential sales (pdf)
  • Industry publications in support of the valuation parameters
  • Post facto sales for trending purposes
  • Non-residential sales from surrounding municipalities

The assessment department completes an annual vacancy study for non-residential properties, the current study can be found here:

2023 Vacancy Study

When you connect your property to your myAirdrie account you can view your current assessment notice online.

 visit myAIRDRIE