The assessed value of a typical Calgary single-family home remained largely flat in 2025, in what the city assessor said is a return to a more balanced market.

Details of Calgary’s property tax assessment were laid out for the media on Thursday, with the typical residential property value only rising by one per cent in 2025. Earlier this week, more than 614,000 residential and non-residential property assessment notices were mailed out, worth more than $457 billion in assessed value.

In the residential category, single residential home values rose one per cent, condos dropped three per cent and multi-family residences rose eight per cent. That’s compared to a roughly 15 per cent jump from 2024 to 2025.

“This year, the market is relatively flat compared to last year’s growth, signaling reduced market pressure and greater stability,” said Eddie Lee, city assessor. He said it’s largely due to stabilized net migration and more supply on the market.

Lee said there’s only one other time there’s been a similar gap from one year to the next in terms of assessed value growth.

“I recall back in the 2008 era when there was the dot-com bust and the more subprime mortgage scenario, we saw residential and non-residential values climb at really high rates. Then that happened, and then we saw declines in assessment values or market values as a whole.”

The median assessment for the single residential home is $706,000 for 2026, rising from $697,000 in 2025. The typical condo valued at $359,000 in 2025, is now valued at $347,000 in 2026.

If a single residential property rose by the typical one per cent, they will bear the approved 1.6 per cent property tax increase in 2026 ($3.57 per month). If a home rose less than one per cent, they will pay a lower amount. If the single resident property value rose more than the typical one per cent, then they will pay a greater amount. That’s part of the City of Calgary’s revenue-neutral taxation system.

“It’s important to remember that property assessment changes are revenue neutral, meaning the assessments do not change the total property tax revenue the city collects immediately,” Lee said.

“It is merely used to determine a property owner’s individual share of property tax.”

Communities seeing the largest growth in assessed value include: Bowness, Cedarbrae, Woodbine, Deer Ridge, Diamond Cove and Red Carpet. They were between five and 10 per cent value growth.

Provincial tax share expected to jump

Overall, the non-residential market was also flat, showing a one per cent growth in value.

Industrial properties rose three per cent and retail properties jumped two per cent, but that was offset by office properties seeing a four per cent decrease.

Lee said that most of the drop in office values was attributed to the downtown office sector, particularly in the “mid-tier properties.”

“We are still seeing tenants in what they call flight to quality,” he said.

“They go from the less desirable buildings to the newer, flashier and more modern buildings with modern amenities.”

The City of Calgary also estimated that the amount of property tax collected on behalf of the Government of Alberta will go up 11.9 per cent. That means the ratio of property tax collected by the city, for the province, will increase from 37 per cent to 40 per cent, Lee said.

“They are taken from Alberta’s budget 2025 document, where they have indicated their intent to continually increase the amount of property taxes the province collects to fund education,” he said.

That number will be finalized in the spring when the province sets its upcoming year budget.

With property tax assessments mailed out, the Customer Review Period has begun and runs until March 23.

“If a property owner feels their property assessment is not an accurate reflection of their market value from July 1 2025, or has questions during the customer review period, they should go to calgary.ca/assessment and log on to Mytax and confirm and update the proper detailed information,” Lee said.