Quote:
Originally Posted by Deegee
Taxes due is based on assessment multiplied by the mill rate.
A 39% increase in assessment doesn't mean taxes are necessarily going up by 39%.
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Everyones property would have to go up 39% for the mill rate to be the quoted increase which is roughly 5% residential and 10% commercial. In this case, his share (property increase) x (mill rate + 5%) increase is coming at him.
We are so lucky that we are back to the tax em' mentality and people are willing to accept the above increases. Nenshi had stopped this approach for two years, which was nice.
For the OP I'd recommend logging onto the city and getting values of about 10 similar places near you for comparison. Then call down to assessment (they may or may not talk to you) and ask if there has been a mistake. A long time ago they would make corrections without you having to go the review board.
As an additional note when a structure is sold, that price becomes the property value. So if you had 10 sales in your neighbourhood that were 39% higher that would do it.