Jan. 20, 2022/For immediate release:
AIRDRIE, ALBERTA - The City of Airdrie mailed assessment notices on Jan. 20, 2022. Assessment values show that the residential market has increased significantly, while the non-residential market has remained stable. The assessed value is based on economic conditions as of July 1 and the physical condition and characteristics of the property as of Dec. 31. “The demand for housing has increased tremendously and has resulted in increased values,” said Valerie Cottreau, City Assessor. “The increase in value will vary depending on property type, attributes and community, however, the typical increase for a single-family home was over nine per cent when comparing July 2021 to July 2020. The non-residential market has remained stable with slight increases in large-scale buildings, like big box stores and distribution centres.”
The demand for townhouses and larger dwellings has increased and homes are spending less time on the market. A trend seen across Canada is an increased demand for suburban housing versus condos/apartments near the downtown core. This is likely due to more people working from home and requiring additional space for home offices. Additional factors that have increased values are low mortgage rates, allowing more people to enter the market and afford a higher value home. A continued trend of property renovations has also increased overall property values.
The Assessment department looks at Multiple Listing Service (MLS) and other technology during their sales investigation to get the most accurate information possible. Assessment information and comparable properties can be found at www.airdrie.ca/propertyassessmentviewer. If there are discrepancies with the information that Assessment has on file, property owners are encouraged to complete an online verification form or call the Assessment department at 403.948.8855. Property owners have until March 29 to request an assessment value review. After that date, the tax rate bylaw process will begin and property taxes will be evenly distributed based on assessment values. Residents can view their property assessment details on MyAirdrie.ca. Residents without an account can sign up at MyAirdrie.ca using the web code provided on their Assessment notice.
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Media contact:
Valerie Cottreau
City Assessor
403.948.8800 ext. 8460