2021 assessment roll briefing jan. 14, 2021 · jan. 14, 2021 | presentation 15. v05 june 2020...
TRANSCRIPT
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V05 1
Ja
2021 Assessment Roll Briefing
Jan. 14, 2021
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Agenda
2
1. Introduction
2. 2021 Property Assessment Roll
3. Residential Assessment Findings
4. Non-residential Assessment Findings
5. Customer Review Period
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Assessment’s Annual Cycle
3
July 1, 20202021 property
assessment
valuation dateDec. 31, 20202021 characteristics and
physical condition of
property on this date
Jan. 14, 20212021 Property Assessment
Notice mailing
March 23, 2021 2021 Customer Review
Period ends
2021 Customer
Review Period2021 Pre-Roll
Consultation Period
Jan. 14, 2021 | Presentation
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V05 4Jan. 14, 2021 | Presentation
2021 Property
Assessment
Notice Mailing
Jan. 14
Preparing the
2021 Property
Assessment Roll
during COVID-19
Assessment
Request for
Information data
timelines
extended
Pre-Roll
Consultation
Period extended
by three weeks
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2021 Pre-Roll Consultation Period Findings
5Jan. 14, 2021 | Presentation
Oct. 1 to Nov. 27, 2020
11th annual Assessment Pre-Roll
Consultation Period:
• Had more than 1400 discussions.
• 1,686 valuation agreements were
made.
• Agreed to more than 21 billion in
assessed value.
Benefits:
• Owners: Better able to understand and
anticipate their share of non-residential
property taxes.
• The City: Increased tax certainty of
one-third of the overall taxable
non-residential base.
Pre-Roll Agreements
Va
lue A
gre
ed
Nu
mb
er
of A
gre
em
ents
Value Agreed # of Agreements
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2021 Property Assessment Roll Findings
6Jan. 14, 2021 | Presentation
Total value
297 billion
Total accounts
552,649
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2021 Property Assessment Roll
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Total taxable accounts and value
Residential Non-residential
# of taxable accounts 525,531 14,639
Total assessed value
(billions)211 58.2
Jan. 14, 2021 | Presentation
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Total Number Of Accounts - 2021 Roll
8Jan. 14, 2021 | Presentation
Non-residential
4%
Residential 95%
Non-residential Residential
Non-residential
28%
Residential 72%
Non-residential Residential
Number of Total Accounts
(displayed as a percentage)
Assessed Value of Total Accounts
(displayed as a percentage)
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Typical Market Changes – 2021 Roll
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Residential Typical Market Change -2%
Non-residential Typical Market Change -6%
Typical
Market
Change
- 2%
Residential
2%
Non-residential
Typical
Market
Change
- 6%
Jan. 14, 2021 | Presentation
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2021 Residential Assessment Findings
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• Single Residential
• Residential Condominium
• Multi-Residential
Jan. 14, 2021 | Presentation
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Residential Assessment Number of Accounts
11
2020 2021
# Accounts
Assessed
value in
billions
# Accounts
Assessed
value in
billions
Single
Residential319,416 163.4 322,316 161.8
Residential
Condominium 183,677 35.4 188,692 34.9
Multi-
Residential 2,139 10.5 2,167 11.1
Jan. 14, 2021 | Presentation
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Residential Assessment Median Values
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Single residential
median assessment
Residential condominium
median assessment
2019 2020 2021
Single residential
median
assessment
475,000 455,000 445,000
Residential
Condominium
median
assessment
255,000 245,000 235,000
445,000 235,000
Jan. 14, 2021 | Presentation
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2021 Residential Market Change
by Property Types
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Residential Assessment Class Typical Change: -2%
1%
-4%
-2%
-5.0% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0%
Multi-Residential Residential Condo Single Residential
Industrial
Multi-Res
Residential Condo
Jan. 14, 2021 | Presentation
Single Residential
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Residential Assessment Tax Change
(Revenue Neutral)
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If overall market change is -2% then…
More than -2%
Taxes increase
Less than -2%
Taxes decrease
-2%
Taxes unchanged
Pro
pert
y A
ssessm
ent
Shift
(2020-2
021)
97% of all residential properties’ revenue neutral
taxes will stay within 10% of last year taxes.
Jan. 14, 2021 | Presentation
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Residential Assessment Revenue Neutral Tax
Changes by Percentages by Community
15Jan. 14, 2021 | Presentation
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June 2020 Hailstorm
16Jan. 14, 2021 | Presentation
June 13
Secure logon
Assessment Search
July 1
Dec. 31
NE communities
property assessment
adjustments applied
to accounts
in property damage:
tennis ball sized hail
stones and wind gust
up to 80 to 100 km/h
7,500
1.4 Billion
32,000homes inspected.
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Residential property median
comparison: 2019-2021
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2019 2020 2021
Single residential
median value475,000 455,000 445,000
Municipal property
tax on single
residential median
assessment
$1,939 $2,145 $2,145*
*Estimated 2021 taxes with
rebate
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2021 Non-residential Property
Assessment Findings
18
• Industrial
• Office
• Retail
Jan. 14, 2021 | Presentation
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2021 Non-residential Assessed Value
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2020 2021
# Accounts
Assessed
value in
billions
# Accounts
Assessed
value in
billions
Industrial 5,380 16.6 5,496 17.5
Office 1,586 17.3 1,628 15
Retail 3,297 18.9 3,489 18
Jan. 14, 2021 | Presentation
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2021 Non-residential Market Change
by Property Types
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Non-residential Assessment Class Typical Change: -6%
-13%
-6%
4%
-14.0% -12.0% -10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0%
Office Retail Industrial
Industrial
Retail
Office
Retail
Jan. 14, 2021 | Presentation
Industrial
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Non-residential Assessment
Tax Change (Revenue Neutral)
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If overall market change is -6% then…
64% of all non-residential properties’ revenue
neutral taxes will stay within 10% of last year taxes
More than -6%
Taxes increase
Less than -6%
Taxes decrease
-6%
Taxes unchanged
Pro
pert
y A
ssessm
ent
Shift
(2020-2
021)
Jan. 14, 2021 | Presentation
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November 2020, Council approved a non-
residential Phased Tax Program (PTP) for
2021.
The PTP will cap non-residential municipal
property taxes to 10 per cent for 2021 to
provide relief to business and property
owners impacted by large year over year
tax shifts. The program is estimated to cost
$21 million.
Specific details will be finalized Feb. 2021.
2021 Non-residential
Phased Tax Program
Jan. 14, 2021 | Presentation
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Assessment Notice Mailing
and the Customer Review Period
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On Jan. 14, 2020 The City issued more than 550,000 notices:
• eNotices: more than 40,760
• Mailed: more than 511,580
The Customer Review Period now begins.
Jan. 14, 2021 | Presentation
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2021 Customer Review Period
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Check your Notice
Log onto Assessment Search
(secure)
• Confirm and update your
property information
• Compare your assessed
value to other similar
properties in your area
• Review real estate market
trends and learn how your
property is assessed
• Sign up for eNotices
Contact Assessment
Jan. 14, 2021 | Presentation
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Property Assessment Webpage
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calgary.ca/assessment
Jan. 14, 2021 | Presentation
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New Customer Service Initiatives
26Jan. 14, 2021 | Presentation
Translation of key
communications
materials into five
languages.
Assessment
Search
enhancements
Market trend
information
A live question and
answer video
session for public
participation.
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Estimating 2021 Property Tax
Property Tax Calculator
calgary.ca/taxcalculator
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Contact Us
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Assessment:
403-268-2888 (Mon. – Fri. 8am – 4:30pm)
311 (outside office hours)
To learn more about Assessment visit calgary.ca/assessment
Jan. 14, 2021 | Presentation
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Questions
Jan. 14, 2021 | Presentation
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Thank you
Jan. 14, 2021 | Presentation