The City-assessed value of both single residential and condominium properties in Calgary recorded double-digit growth in 2015.

According to the City of Calgary, which mailed out more than half a million property and business notice to residents in early January, the 2015 median single residential assessment grew by 10 per cent to $475,000 from $430,000 in 2014. The median residential condominium assessment, meanwhile, is up 11 per cent to $290,000 from $260,000.

Here are five things you need to know about this year's assessments: