Topic: Assessments are coming ... get yours yet?

[wing]

I got my assessment today, looks like my house went up $20k from 2005 -- but I think I'm paying taxes not on the previous assessment but my home purchase price, since I bought last year -- not 100% certain on that.

Anyways, assessment is about $25k less than I paid for the house and the banks assessment... so I guess I can't complain.

[sailor723]

Assessments come with the tax bill as a February treat here in NB (payable by the end of May)

[mmret]

Renting ftw.

[initial_D]

We get ours in the Spring, ... I think ... Should be 10% lower at least, with the current market condition. But that would mean less taxes for the local gov't, so I am guessing the assessment value on the property tax bill should hold.

[ovr50]

BC assessments are based on supposdly market value at July 1 each year. So, our next assessment will be for July 1/08 but we sold/closed sale of our house on July 2/08. We are renting now, and new house assessment was a vacant lot with some initial const on it at July 1/08 so our taxes for current year should be lower.

Price declines happening now won't be in the assessments until July 1/09.

[tpl]

Weird, ours was for a few thou less than we paid.   Whatever... I feel that we get some value for property taxes in G, a lot more value to us than we perceived in TO.

[dorin]

I just opened ours. I can't believe it's over 50k more than we paid less than 3 months earlier than the assessment date.

I guess it's time to figure out how to appeal...  *sigh*

[wing]

At least it gets phased in now.

[dr_spock]

Hopefully the city will lower its mill rate by the same amount.   

[ArticSteve]

Hopefully the city will lower its mill rate by the same amount.   

    

One really needs to state increases in terms of %.    My 2 properties went up 26% and 31%.  So over the 4 year phase in period they want 6.5% and 7.75% more annually. 

Essentially that requires an annual increase of around 12% gross income (before tax) to stay even at those rates.  The only bright side is that the current economic climate will sink recreational property values that can tank for long periods of time unlike residential properties.

During the last 3 years I have asked for 6 Requests For Reconsideration all of which have resulted in changes.  However, I needed to file appeals in each instance because MPAC would never come to the table prior to the deadline.  You get your $75. fee back if you settle, but not if you win an appeal.  Figure that out. 

It's called state to municipality downloading and it all got started by Christine Todd Whitman then Governor of New Jersey.   Mike Harris hired the very ppl that she used to advise him on how to do it.  That is:  run for office on a platform of low taxes, but knowning that the shortfall in revenue will be download to the municipalities.  Hence increased property taxes.   

[wing]

Well ok as a percentage my house went up 5.5% or just over 1% per year ... not bad.  Actually it might be a decrease in taxes for me as the mill rate will likely change with the typical 10-20% average change.

[carburator]

Does anyone know of a forum where you can get help on the MPAC stuff?

[safristi]

Christine Todd Whitman/Mike HARRIS/Artic Steve.......all three @ YOUR SERVICE...........

[Dante]

Mine came in few months ago and it went up $65K from the previous assessment from 4 years ago or $100K over the price I actually paid for 5 years ago. The base for the tax calculation though it will increase gradually over the next 3 years.
The assessed value is probably in-line with what I could have sold my house for 6 months ago or so, but now... I don’t know.

[safristi]

BOTTOM LINE..........municipalities are HURTIN fer REVENUE....and moreso to come.....don't go lookin' fer a Faerie low balls assessment @ the bottom of yer garden........... ...more like a bed of rotten ingrates mill rates

[carburator]

BOTTOM LINE..........municipalities are HURTIN fer REVENUE....and moreso to come.....don't go lookin' fer a Faerie low balls assessment @ the bottom of yer garden........... ...more like a bed of rotten ingrates mill rates

It's not the low ball assessments that ticks people off. What really ticks people off is when they compare their own assessment to their neighbours and their neighbours is low balled in comparison. For the same house.

[wing]

That happened to me at my last place.

2 town houses, adjoined (so location can't be different it's the same lot!).  His house was the same model as mine, but he had opted for the 3 bedroom version with 2.5 bathrooms, while I opted for 2 bedrooms and 1.5 bathrooms.  He also had a roughed in bathroom in the basement (so easy potential for 3.5 baths).

His assessment was $20k lower than mine!  That made no sense what-so-ever.

[carburator]

That happened to me at my last place.

2 town houses, adjoined (so location can't be different it's the same lot!).  His house was the same model as mine, but he had opted for the 3 bedroom version with 2.5 bathrooms, while I opted for 2 bedrooms and 1.5 bathrooms.  He also had a roughed in bathroom in the basement (so easy potential for 3.5 baths).

His assessment was $20k lower than mine!  That made no sense what-so-ever.

Well I guess you might be thinking that you should fight it and call MPAC right? Well, I did. When the mpac guy came over and I told him that the semi next to me was the same except that they had some renovations done he said to me, " don't worry..w'ell get them next time".     So if you are going to fight, be prepared.

[ArticSteve]

Well ok as a percentage my house went up 5.5% or just over 1% per year ... not bad.  Actually it might be a decrease in taxes for me as the mill rate will likely change with the typical 10-20% average change.

Is there a municipality in Ontario that has actually lowered their mill rate?  Often, a municipality will announce that they are "holding taxes" to zero or 1% to great fanfare when in fact the assessments have increased across the board to actual levels of 6-7 %.  This assessment system is so disingenuous and allows municipalities to run wild with spending.  PPL on fixed incomes are facked.  When the wife retires, we're moving to BORNEO .... tree home. 

[safristi]

hey my low-balls are higher than yer High Balls..............Bottoms something!!!! ... whose a Monkey's Uncle now then...cootchy coo.........ORANG UTAN does that taste as good as FANTA?.....or is  it more like "chicken"