2011 Property Assessments are out today

[shermanator]

This year's property assessments are out today. The average home went up 8% according to the Herald. Mine went down 8%...

You can search your house here: http://www.calgary.ca/portal/server....ent+Search.htm

[moncton golden flames]

up 9.3%...yippee, more taxes!

[Russic]

Is there a way to see last years assessment?

[burn_this_city]

Good, it appears my place is slightly under valued.

[Old Yeller]

Originally Posted by Russic

Is there a way to see last years assessment?

I'd also like to know this, I can't remember exactly what it was last year.

[billybob123]

Holy fata.

Up 34%.

How do you contest this?!?!?!?

[fredr123]

According to the community profiles, 62% of the homes in my neighborhood went up this year. Also, 100% of the homes changed by more than +/-10%. I have no idea what last year's assessment was but I'm guessing this year's is higher.

[alltherage]

Damn it! Up 9.2%! Woodlands btw.

[Clarkey]

Is there a formula you use to calculate your annual taxes based on your assessed value? I just bought my house in September and it's assessed value is $100k higher than I paid. This could hurt.

[Clarkey]

Originally Posted by fotze

I don't think they have come out with the 2011 mill rate yet. They like spreading this stuff out over months to confuse us. For 2010 it is:

City tax rate -0.0031380
Provincial tax rate - 0.0027354
Total - 0.0058734

The assessment total is revenue neutral so if the whole city goes up 8% they don't pull in 8% more taxes. It is just up whatever the city said they are increasing (I believe it was around 5%).

So a rough number would be to multiply your assessment by 0.0058734 and reduce it 3%. Actually no that doesn't work. Who knows what to do.

Ouch I hope you're wrong, that's an extra $400 bucks... which should almost offset the $400 bucks I'll save on the LRT parking.

[Knut]

^ year... same with me. 10% increase during the assessment and i bought it for 70,000 under. Maybe we should appeal ?

[sclitheroe]

Are the assessment values in the same ballpark as resale values? Obviously improvements or poor upkeep will swing that number either way, but is it a representative starting point?

[fredr123]

Originally Posted by Clarkey

Is there a formula you use to calculate your annual taxes based on your assessed value? I just bought my house in September and it's assessed value is $100k higher than I paid. This could hurt.

According to the City: http://www.calgary.ca/portal/server....Assessment.htm

Your Property Assessment Notice reflects the estimated market value of your property based on the valuation date of July 01, 2010, as set by the Municipal Government Act. Real estate market conditions may change from the time of the valuation date to when you receive your 2010 assessment. Market changes that have occurred since July 01, 2010 will be reflected on your 2011 annual market value assessment, which will be mailed in January 2011. Your 2011 assessment will be based on a July 01, 2010 valuation date.

[Knut]

^^ I do not think so. As there are so many other factors that come into it. 1) The market 2) what other houses in the area sold at in the last 6 months 3) upkeep 4) Intangibles etc.

[FLAMESRULE]

Up 11% and I'm in West Hillhurst...

[fredr123]

Originally Posted by sclitheroe

Are the assessment values in the same ballpark as resale values? Obviously improvements or poor upkeep will swing that number either way, but is it a representative starting point?

I know for a fact the opposite doesn't work in the legal world. If you go into a foreclosure hearing arguing for a property value based on a city assessment, the court is not going to let you go very far with that line of reasoning.

[Starfishy]

Is there a way to see last year's assessment?

[Ozy_Flame]

Only 7.1% increase . . . . Sweeeeeet

[Ashartus]

Apparently my house is worth almost $60,000 more than my next-door neighbour, despite us having basically identical houses and my neighbour having a much larger lot. The only difference is my basement is developed and theirs wasn't finished until after the assessment date (and I suspect wasn't done with a permit). I'm not an expert on property evaluation, but I can't see a basement by itself being $60,000.

[burn_this_city]

Any idea why a group of townhomes in the same building side by side would have an assesment that varies by $15-20k?? My home seems to be valued quite a bit higher than my next door neighbours.