Quote:
Originally Posted by Clarkey
The City's scam of over-assessing the value of houses so they can collect more tax revenue without officially raising the tax rate. My plastic McHouse in the burbs did not increase in value by $150k+ in 3 years. I went through the bogus process of contesting the value last year and provided compelling data that it was over valued by 100k and also showed how my whole community was overvalued and instead of reducing the assessment they paid me back by adding another $50k to 2014. Are there any neighbourhoods in Calgary that have increased in value over 30% since 2013. If I was a nervy motivated bugger I would go to the media over this. I think I will contest again despite the waste of time.
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Property taxes are revenue neutral. If the average value in the city goes up property taxes remain the same as the milrate goes down. If your house increases in value relative to the rest of the houses in the city your taxes will go up. If your value relative to the rest of the city went down then your taxes go down. Once the revenue neutral adjustments are done then the tax increase is applied. For example my house increased in value 22k however its percent increase is less than the city average so my revenue neutral tax assessement dropped by 2% so if we have a 5% tax increase my taxes only increase by 3%
So it sucks your property is over valued but the city isnt getting anymore money overall the rest of us just get a discount.