Stan Valant, a resident of Calgary's Silver Springs, is facing a significant tax increase due to a property assessment that soared to over $1 million, despite making no improvements to his home. This unexpected jump in value, a stark contrast to the $673,000 valuation in 2023, has left Valant bewildered and concerned about the financial implications for his long-time residence.
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. 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 tax,' Lee said. Being a resident of Calgary since 1980, I feel it's a stab in the back, really, definitely,' he said. Ward 1 Councillor Sonya Sharp says a jump like Valant's is unusual and will have a significant impact. 'A 60 per cent jump in someone's assessed value means quite a hike in their tax or their end tax results,' she said. 'It is a big job to do an appeal, but I would strongly recommend people do it, and also, if there is some sort of error on the city side, they will fix it,' she said. Last year, approximately 2,700 or about .05 per cent of Calgarians filed appeals, and not all were successful. Valant plans to appeal the assessment, saying the financial strain could force him from his home of nearly 30 years. 'I have to appeal it because I can't afford it,' Valant said. 'I'm a senior citizen on a fixed income.' Homeowners must substantiate their claims with evidence such as property size, photos and the classification of the property. It's essential to demonstrate that the home has been assessed too high compared to similar properties. Tax assessors may wish to come to your home to verify your claims in person
PROPERTY TAXES ASSESSMENT APPEALS HOME VALUES CALGARY REAL ESTATE
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