Quote:
Originally Posted by CPK80
Mill rate is a fair way to compare tax rates... Yes there is more than that but it is a simple and quick comparison, yes houses are cheaper in Regina but also the cost of delivering services would be cheaper (Employee Wages would be lower) in Regina.
If you own a $500,000 in Calgary you would pay 2,389.75 a year
If you own a $500,000 in Regina you would pay 4,557.60 a year
|
The formula is
fair market value of all properties (assessment) x mill rate = city budget
a * b = budget
a is established first, then city budget then the mill rate is set. You are making a comparison on one value. To make a valid comparison you would need to correlate a*b=budget per capita or some other way to even begin to compare a city mill rate. It's math, i'm not saying that Regina is paying huge property tax and can build arena's, i'm just saying mill rate is not a comparison.
Just based on population alone calgary fair market value is over a five time multiple to Regina.