New Paragraph

2020 Property Tax Assessments

CoryVance • January 9, 2020

You should be receiving your 2020 property tax assessments in the mail this week.  Your property assessment reflects the estimated value of your property on July 1, 2019, along with your property characteristics and condition on Dec 31, 2019.  How does the city know the condition of your property on a specific date?  Good question.  How do they even know what sort of upgrades and finishings you have inside your house?  The short answer is they do not.  So it is important to note a property assessment is NOT to be confused with your current market value.

If you are thinking about selling your property, it would be best to talk to a realtor who will be able to give you a better idea of current market values along with current market conditions. Need a realtor?   EMAIL  me and I can connect you with the best.

Your value on your property tax assessment CAN and does impact your property taxes.  In the case of 2020, the City of Calgary has seen property assessment values decrease by 4% over the previous year.  This was based on a typical residential home of $455,000.

Now for the bad news .  City council made a decision last year to start to shift the tax burden from businesses to residential homes.  With that in mind, the average property tax increase is forecast to be  7.5%  that is even with a 4% decrease in your property assessment.  So be prepared for yet another tax increase this year.

Feel like disputing your property assessment click this  LINK

2020 key dates

  • July 1, 2019 – property assessment valuation date
  • Oct. 3 to Nov. 8, 2019 – Pre-Roll Consultation Period (Pre-Roll)
  • Dec. 31, 2019 – the physical condition of the property as of this date
  • Jan. 2, 2020 – assessment notice mailing *
  • Jan. 2 to March 10, 2020 – Customer Review Period
  • May 2020 – property tax bill mailing
  • June 30, 2020 – property tax due date

More questions on property taxes, property values or want to talk mortgages  call 403-614-9211  or  EMAIL.

Share

RECENT POSTS  


By Cory Vance July 1, 2025
With the latest stats claiming that about half of marriages end in divorce and with around three-quarters of Canadians being homeowners, it’s important to know how to handle your mortgage if you decide to separate. Here’s a quick list of things to consider. Keep making your payments. A mortgage is a legally binding contract between you and the lender. It doesn’t take marriage into account. If your name appears on the mortgage, you're responsible for making sure the regular payments are made. A marital breakdown does not give you an excuse not to make your mortgage payments. If, during your marriage, you've relied on your spouse to make the mortgage payments and you aren’t certain payments are being made after separating, it's in your best interest to contact the lender directly to verify your mortgage is being paid. If payments aren't being made, it could affect your credit score or worse; the lender could start foreclosure proceedings. There is always a financial cost to break your mortgage. When working through how to split your finances, you decided to either refinance your mortgage, remove someone from the title, or sell the property, keep in mind that you will incur legal costs. If you’re in the middle of a term, the penalty for breaking your mortgage might be significant, especially if you have a fixed-rate mortgage. It’s certainly worth contacting your mortgage lender directly to verify the cost of breaking your mortgage. Having that information accessible when writing out your separation agreement will provide increased clarity. Listing your marital status as separated or divorced. When completing a mortgage application for securing new mortgage financing, when you list your marital status as separated or divorced, you can expect that a lender will want to see your legal separation agreement or your divorce papers. The lender wants to make sure you aren’t responsible for support payments. So if you haven’t finalized the paperwork, expect delays in securing mortgage financing. It could be harder to qualify for a new mortgage. With the separation of assets also comes the separation of incomes. If you qualified for your existing mortgage on a double income, you might find it hard to maintain the same quality of lifestyle post-separation. This is where careful planning comes in. Working closely with your independent mortgage professional will ensure you understand exactly where you stand. You’ll want to put together a plan for how to handle the mortgage on the matrimonial home. Purchasing the matrimonial home from your ex. There are special considerations given to people going through a separation to buy out the matrimonial home. Instead of looking at the transaction like a refinance where you can only borrow up to 80% of the property’s value, lenders will consider one spouse buying out the other up to a 95% loan to value ratio. This comes in handy when dividing assets and liabilities. Navigating the ins and outs of mortgage financing isn’t something you have to do alone. If you're going through a separation and you’d like to discuss all your mortgage options, please connect anytime. It would be a pleasure to walk you through the process.
By Cory Vance June 20, 2025
If you’re a first-time homebuyer eyeing a new build or major renovation, there's encouraging news that could make homeownership significantly more affordable. The federal government has proposed a new GST rebate aimed at easing the financial burden for Canadians entering the housing market. While still awaiting parliamentary approval, the proposed legislation offers the potential for thousands in savings —and could be a game-changer for buyers trying to break into today’s high-cost housing landscape.  What’s Being Proposed? Under the new legislation, eligible first-time homebuyers would receive: A full GST rebate on homes priced up to $1 million A partial GST rebate on homes between $1 million and $1.5 million This could mean up to $50,000 in tax savings on a qualifying home—a major boost for anyone working hard to save for a down payment or meet mortgage qualification requirements. Why This Matters With interest rates still elevated and home prices holding steady in many regions, affordability remains a challenge. This rebate could offer meaningful relief in several ways: Lower Upfront Costs: Removing GST from the purchase price reduces the total amount of money buyers need to save before closing. Smaller Monthly Payments: A lower purchase price leads to a smaller mortgage, which translates to more manageable monthly payments. Improved Mortgage Qualification: With a reduced purchase amount, buyers may find it easier to meet lender criteria. According to recent estimates, a homebuyer purchasing a $1 million new home could see monthly mortgage payments drop by around $240 —money that could go toward savings, home improvements, or simply everyday expenses. Helping Families Help Each Other This proposal also offers a win for parents who are supporting their children in buying a first home. Whether through gifted down payments or co-signing, a lower purchase price and more affordable monthly costs mean that family support can go further—and set first-time buyers up for long-term success. Is This the Right Time to Buy? If you’re thinking about buying a new or substantially renovated home, this proposed rebate could dramatically improve your financial position. Now is the perfect time to explore your options and make sure your mortgage strategy is aligned with potential policy changes. 📞 Let’s connect for a free mortgage review or pre-approval. Whether you’re buying your first home or helping someone else take that first step, I’m here to help you make informed, confident decisions.

STAY INFORMED

Subscribe to my newsletter

STAY INFORMED