Property Tax Assessment vs. Market Value: What Calgary Buyers and Sellers Need to Know
Posted by Marnie Campbell on
As a Calgary home buyer or homeowner, you’ve likely come across two key terms when researching properties: property tax assessment and real estate market value. While they may seem similar, they serve very different purposes—and misunderstanding the difference can lead to costly mistakes.
In my 18 years as a Calgary REALTOR®, I’ve met many clients who assumed their home’s tax assessment reflected its actual market value. However, that’s not always the case.
For example, I worked with a seller whose tax assessment was much higher than the true market value. They assumed they could list at that price. After we did a detailed market analysis, they adjusted their expectations, priced competitively, and sold within a reasonable timeframe—instead of…
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