Calgary property values are on the upswing following a decline last year, which means more than half of city homeowners can expect to pay higher rates based on new assessments released Tuesday.
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About 55% of Calgary residential property owners will likely see a tax increase while 45% can expect a decrease, based on the annual assessment the city conducted.
The value average single family has jumped to $410,000 compared to $374,000 in 2010, while a condo unit goes up to $250,000, up from $233,000.
City assessor Stuart Dalgleish said 472,500 assessment notices have been mailed to owners of residences and businesses, which kicks off a two-month customer review period.