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firebug · 06-02-2016, 08:58 AM

Here's what I'm seeing from my calculations:

Mill rate changes*:
City +4.8%
Province +11.3%
(combined 7.288%)

If you multiply your home's %-change in assessed value by the mill rate change you should see the total %-impact in your taxes (alternatively, if you take your change in taxes and divide by the mill rate %-change you'll find the change in your assessed value).

Therefore... if your taxes increased by more than 7.3% than your home's assessed value also increased.

* as these are mill rates, it doesn't necessarily mean that the city (province) only raised taxes by 4.8% (11.3%). eg. if the city also increased average assessments by 10% their effective increase would be ~5.3% (conversely if avg. assessments decreased by 10% the effective tax change would be 4.3%)

[Edit: I see here: http://globalnews.ca/news/2433990/20...-need-to-know/ that the average property assessment dropped 1% this year, so the average homeowner should expect to see a property tax increase of 7.22% (city +4.75%; prov. +11.2%)]

06-02-2016, 08:58 AM	#127
firebug Powerplay Quarterback Join Date: Aug 2002 Location: Mayor of McKenzie Towne Exp:	Here's what I'm seeing from my calculations: Mill rate changes: City +4.8% Province +11.3% (combined 7.288%) If you multiply your home's %-change in assessed value by the mill rate change you should see the total %-impact in your taxes (alternatively, if you take your change in taxes and divide by the mill rate %-change you'll find the change in your assessed value). Therefore... if your taxes increased by more than 7.3% than your home's assessed value also increased. as these are mill rates, it doesn't necessarily mean that the city (province) only raised taxes by 4.8% (11.3%). eg. if the city also increased average assessments by 10% their effective increase would be ~5.3% (conversely if avg. assessments decreased by 10% the effective tax change would be 4.3%) [Edit: I see here: http://globalnews.ca/news/2433990/20...-need-to-know/ that the average property assessment dropped 1% this year, so the average homeowner should expect to see a property tax increase of 7.22% (city +4.75%; prov. +11.2%)] __________________ "Teach a man to reason, and he'll think for a lifetime" ~P^2 Last edited by firebug; 06-02-2016 at 09:16 AM.