The most accurate indication of the market value of your home is a recent sale.  The next most accurate indicator is a recent appraisal.  If you have neither of these, then a simple assessment comparison of similar properties can show if your home is fairly assessed.  The assessment comparison takes the equity approach to value where you have the right to receive an assessment that is equitable to other similar properties.

Step 1: Consider the actual purchase price or appraised value of your property.
If you purchased your home during the relevant market period, and the purchase price is less than the assessment, you are most likely over assessed.  Also, if you have an appraisal report prepared during that period showing a value less than the assessment, your home is again likely over assessed.  In either case, you should bring the information to the Assessor and request a reduced assessment to equal the purchase price or the appraised value.
 

Step 2: Compare the assessments of similar properties to your own.
Drive through your neighborhood to find addresses of homes (including condominiums) similar to yours.  You will require at least four for a good comparison.  The best combination of properties will consist of those with the fewest number of dissimilar features.  Users are cautioned to select comparable properties that are similar to the subject in terms of location, building type (bungalow, two-storey, apartment condo etc.), approximate year of construction, approximate floor area above grade, and number of garages/parking stalls (if any).  If you live in a condominium, it may be possible to find units with similar floor plans from the builder, sales agent, or MLS.  With these addresses, you can acquire assessment and building details from your local Assessment Department (Note: Calgary, as well as some other Cities have web sites where you can acquire the assessments - City of Calgary assessment web site).

After obtaining the assessment information and square footage from your local Assessment Department for the comparable properties (see city web site for details e.g., Calgary http://dmzwww2.gov.calgary.ab.ca
/fairshare ), proceed to the Residential Assessment Analysis page.  See Depreciation Factors for help completing and understanding the form. 

Complete this analysis using accurate information only.  The more accurate you are, the better your chances of having the information accepted by the Assessor.

The Residential Assessment Analysis Report may be printed out for reference when you speak with your local Assessor.

Simply hit the print icon to obtain a printed copy of the analysis. This can be forwarded to your local Assessor for comments and assessment corrections as required.

Note:  If you are dissatisfied with the outcome of your discussions with the Assessor, you have the right to appeal your property tax assessment.  Check your Notice of Assessment for appeal deadline date and instructions.

Disclaimer: You draw your own conclusions regarding the accuracy of your assessment and the value of your home.  This is not an appraisal report.  Rickard Realty Advisors does not take responsibility for the accuracy of your conclusions.  This is not an opinion of value.