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Originally Posted by calgarywinning
The media reports a very basic version of how the system works.
Tax Rate = Mill rate; terms are interchangeable applied to the property valuation pool as a whole. In order for them to set the Mill Rate/Tax Rate, they need to set the property valuation. That's why everyone gets their valuation on Jan 1 (used to be Mid to end Feb).
The percentage increase reported is on the increase over the collective mill rate/tax rate from the previous year, but is no reflection on the property valuation pool that it is being applied to.
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The boldest is just not correct. I’d happily concede the point if you can provide articles discussing the increasing or decreasing mill rate.
The % increase reported When the city approves its budget each year in October is the increase in the amount of money from property taxes. They don’t know the milrate increase until the assessments are done.
No one has ever reported on the % the mill rate increased. From about 2003 to 2008 was the media reporting double digit tax rate decreases? Because the milrate was dropping substantially during these periods.
For example in the article of the start of this thread it talks about the change in amount home owners will pay. No where in the article does it mention the mill rate.
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For 96 per cent of homeowners, that means their taxes will remain within plus or minus 10 per cent of last year's levy.
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