Income and multi-residential properties: assessment and appeals

Which board, which fee

The Composite Assessment Review Board (CARB) hears complaints about property with 4 or more dwelling units and non-residential property (MGA, s. 460.1; alberta.ca). Its presiding officer is provided by the Land and Property Rights Tribunal, a provincial tribunal. If a property has multiple uses and both boards would have jurisdiction, the complaint goes to the CARB (MRAC, s. 13). A mixed-use building, with a shop at street level and apartments above, therefore goes to the CARB.

Fees are capped at $650 (MRAC, Schedule 2), the amount Calgary and Edmonton charge. Evidence deadlines are longer than at a local board: 42 days before the hearing for the complainant, 14 for the municipality, 7 for rebuttal (MRAC, s. 9). The law also lets a CARB order costs in some circumstances (MGA, s. 468.1). The amounts are compared in cost and savings.

The income approach

The Municipal Affairs guide describes three approaches: sales comparison, cost and income. On the income approach, it says: “This approach is used to assess the value of rental properties, such as apartment buildings or rental office buildings.” The idea is that a buyer pays for a rental building according to the income it can produce. Calgary says it generally uses this approach for non-residential properties that generate income, such as retail or office properties.

Edmonton publishes its method for low-rise apartment buildings: “the assessment is determined using the income approach.” Two models work together. The first calculates a Potential Gross Income (PGI) from rents. The second calculates a Gross Income Multiplier (GIM) from sales. For 2026, the City analyzed tenant rolls from April 1 to July 1, 2025 and sales from July 1, 2022 to June 30, 2025.

One point often surprises owners: the assessor uses typical market rents, which may differ from yours. Edmonton’s methodology states that the assessor “is not bound by the contractual rent between the landlord and tenant.” A building rented below market does not automatically get a lower value. What counts is evidence of the market on July 1 of the previous year.

The assessor’s request for information (ARFI)

The law requires anyone to give the assessor, on request, the information needed to prepare an assessment (MGA, s. 295(1)). Calgary calls this an Assessment Request for Information (ARFI): “ARFIs are sent throughout the year to non-residential and multi-residential property owners.” It may ask for property details, market information and sales data, and says the information is confidential and only disclosed as required by law. In myTax, an owner can update lease information or upload a rent roll; some property types, including multi-residential, must reply by email, as the original request explains.

Edmonton sends its Request for Information (RFI) every year. For a multi-residential building, it asks for the items in the table below. The City’s FAQ also lists the expenses not to enter on the income and expense form.

Not answering costs you the right to complain

The rule is strict. “No person may make a complaint in the year following the assessment year” if they failed to provide the requested information within 60 days of the request (MGA, s. 295(4)). Calgary sums it up: without a timely answer, “you risk losing the right to challenge your property’s assessed value for the next year.” Edmonton’s form cites the same section.

The Act also covers the reverse. While a complaint about an assessment is under way, the owner does not have to give the assessor information about that assessment until it is decided (s. 295(6)). And the assessor is not bound by information it has reasonable grounds to believe is inaccurate (s. 295.1). Answer on time, with accurate figures that match your financial statements.

Building your evidence for the CARB

The burden is on the complainant: the Municipal Affairs guide says complainants must demonstrate that the assessment is not correct. For an income property, the evidence follows the assessor’s method. Start by understanding the City’s numbers: section 299 of the MGA gives you access to the descriptors and codes for the variables in the model applied to your property, and to adjustments made outside the model, without the coefficients (MRAT, s. 33). Ask before you file, since the municipality has 15 days to respond.

• The rent roll close to July 1 of the previous year, suite by suite: actual rent, market rent, inducements, vacant suites.
• Vacancy and collection losses, documented over several months and compared with the market.
• Operating expenses from the financial statements, without mortgage, interest or amortization.
• Sales of comparable buildings and their price-to-income ratio, if the assessor uses a multiplier.
• Physical condition on December 31: major repairs, contractor estimates, photos.

When an AACI appraiser helps

No one has to hire a professional. For an income property, an independent report is often the centrepiece of a CARB case. The Appraisal Institute of Canada describes the AACI as qualified for any assignment on residential, commercial, industrial, institutional, agricultural, land and special use property. The CRA covers dwellings with “not more than four self-contained family housing units.” For a building with more than four units or a commercial property, look for an AACI.

Ask for a report effective July 1 of the previous year that explains the market rents, vacancy and expenses used, and that responds to the City’s method. Payotte presents one verified appraiser per area; always check the designation with the Institute. See find a designated appraiser, municipal assessment vs market value, the Alberta property assessment page and all provinces at property assessment in Canada.

Frequently asked questions