It’s no surprise to Mr. and Mrs. Average Calgarian that the City of Calgary has devalued residential homes in Calgary.
The 2016 tax assessments are being delivered to Calgary residences this week and the effects of our sour economy are evident in overall residential values.
The median assessed value for a single-family home, which is different than the average value, is actually up from 2015 by $5,000. Condominiums are down by $10,000 to $280,000.
The bulk of Calgary’s residential homes remained relatively stable, however the assessed value of Calgary luxury homes dropped dramatically according to Nelson Karpa, city assessor.
Comparing 2016 to 2015, Nolan Hill in Calgary’s extreme North West has been hit the hardest for an assessment…