Calgary homeowner faces challenge after property assessment jumps 60% [Video]

Stan Valant, a long-time resident of Calgary’s Silver Springs, is baffled by the city’s recent assessment of his bi-level home.

Despite making no improvements, the value of his 1,084-square-foot house jumped from $673,000 in 2023 to more than $1 million last year, according to city tax assessors.

“No, it’s nowhere near a million. There’s no way,” Valant said. “I can’t see anybody buying this place for a million dollars.”

The City of Calgary reports the average residential property increased in value by 15 per cent last year, resulting in a tax increase of 5.5 per cent for those properties.

Homeowners whose property value increased by less than 15 per cent will see lower tax hikes.

However, Eddie Lee from the City of Calgary explained that properties with above-average value increases will face higher taxes.

“If your property value change is higher than the typical change, this will result in more …