At this meeting, we are pleased to announce the following speakers:

Ted Morton, PC candidate for Alberta Premier, who will discuss his platform and answer any questions you may have.

Dave Rodney, MLA & government liaison to the Strategic Tourism Marketing Council, who will provide an update on any new or upcoming initiatives from the STMC and/or Travel Alberta.

Robert Gagne, Managing Director, AEC International, who will discuss the Advance Consultation Process (ACP), geared towards negotiating 2012 tax assessments for Commercial Property in advance of the January assessment release in Calgary.

We hope you are able to join us!

The City of Calgary is providing the opportunity for non-residential property owners, business owners and their representatives to participate in a 2-way exchange of information regarding their property and/or business roll prior to the finalization of the assessment roll. These pre-roll meetings will start October 3^st, 2011 until
October 21^st, 2011. Representatives must have valid Authorization of Agency (AOA) filed with the City of Calgary prior to the commencement of any discussions during the 3 week period.

Customer Review Period

Following the mailing of the 2012 assessment notices estimated as January 3, 2012, all taxpayers will have a 60 day period in which to participate in discussions regarding the correctness and fairness of the subject assessment. The values reflected on the 2012 assessment notices will be based on the market value of property and the typical net annual rental value of the business space as of July 01, 2012.

2012 Assessment Roll Timeline – Key Dates

• August 25, 2011  Advanced Consultation Period (ACP) invitation
• August 31, 2011  AOA (Authorization of Agency) form submission for complete ACP Information
• October 3 – October 21, 2011 Advance Consultation Period (ACP)
• January 3, 2012 Property and business assessment notices mailed
• January 3 – March 6, 2012 Customer Review Period (CRP)
• March 3, 2012 Final complaint date
• Late January/February 2012 Business tax notices issued
• May 2012 Property tax notices issued

As a representative to you, AEC international will review, scrutinize, and apply our knowledge and expertise in the analysis of the current assessments in order to determine the most fair and equitable property and/or business assessment.

We help our clients minimize and manage realty taxes on both single properties, across Canada and large multi-national portfolios.

We look forward to assisting you.

Tina Martin
Business Development Manager
tmartin@aec-international.com

403.456.0096

Click here to view the article.

See the CPTA website to attend.

The City of Calgary is providing the opportunity for non-residential property owners, business owners and their representatives to participate in a 2-way exchange of information about the property or business roll prior to the finalization of the assessment roll. These pre-roll meetings started October 1st and will continue until November 13, 2009. Representatives must have valid Authorization of Agency (AOA) filed with the City of Calgary prior to the commencement of any discussions.

Customer Review Period

Following the mailing of the 2010 assessment notices on January 4, 2010, all taxpayers will have a 60 day period in which to participate in discussions regarding the correctness and fairness of the subject assessment. The value reflected on the 2010 Assessment Notices will be based on the market value of property and the typical net annual rental value of the business space as of July 01, 2009.

2010 Assessment Roll – Valuation and Trends

According to the City of Calgary, valuation and market trends which may affect the 2010 property and business assessments in the City are as follows:

Multi-Residential

• Vacancy rates have increased slightly to 2-5%
• Rental rates have increased slightly in all building classes
• Overall values have declined by 10-15% for low rises, townhouses, 4-plexes. Values for high rises remain flat.
• GIMs are showing a slight decrease of 2-3 points in all classes except high rises.

Hotels

• Revenues have decreased over last year, capitalization rates have also declined. Market value on some inventory is down 5-10% from 2008.

Downtown Office Market

• Vacancy rates are between 2-8% for downtown office space, while vacancy rates in the beltline and suburban markets are 8.5% and 6%-9% respectively
• Downtown rental rates have decreased by 7-10%, while rental rates for beltline and suburban office space have remained static.
• Capitalization rates range from 6.75% to 8.5% depending on office class and location
• Although vacancy rates are rising, downtown Calgary remains the most expensive city in Canada to rent prime office space.

Retail

• Vacancy rates vary by property type/quadrant and range between 2%-12.5%.
• Rental rates are fairly static. Rents for free standing retail range from $12-$30 per square foot, while other retail (CRU) rental rates range from $20-$36 per square foot.
• Capitalization rates have increased since 2009 and range from 6.5% for larger regional malls to 8% for strip centres and free standing retail.
• Operating costs continue to rise and range from $8.50-$10 PSF depending on property type.

Industrial

• The market for the 12-month period leading up to the July 1, 2009 valuation date was flat. The focus in industrial land markets shifted to smaller parcels (2 acres and smaller) and away from larger parcels).

2010 Assessment Roll Timeline – Key Dates

• October 1 – November 13, 2009 Advance Consultation Period (ACP – see below)
• January 4, 2010 Property and business assessment notices mailed
• January 4 – March 4, 2010 Customer Review Period (CRP)
• March 4, 2010 Final complaint date
• Late January/February 2010 Business tax notices issued
• May 2010 Property tax notices issued