2006 Property Taxes

[ken0042]

Well, the assesments are in the mail today. I went and had a look on the city's website.

Looks like mine went up by about 13%, so with the increase in the rate I'm looking at about a 14% net increase in my taxes.

I suppose that's the cost of living in a growing city like Calgary.

[Frank the Tank]

Except it seems to be like that even in a small city like London. My taxes have gone up 36% since I bought my house 5 years ago. Ouch.

[browna]

Originally Posted by ken0042

Well, the assesments are in the mail today. I went and had a look on the city's website.

Looks like mine went up by about 13%, so with the increase in the rate I'm looking at about a 14% net increase in my taxes.

I suppose that's the cost of living in a growing city like Calgary.

Yeah, quick math shows ours going up by 12.5%....We moved in March 2005, and the first day in the new place our mail had the assesment..which had gone up a measly 0.2% from the previous year...now up 30$K.

I guess the purchase price of our house pushed it up (although now the assesment is 20K more then we bought it for 11 months ago) as well as some similar size houses on our street selling instantenously for top dollar in the past 6 months

[Bend it like Bourgeois]

you know that? I'm not sure that's necessarily the case so I'm curious if that's based on your bill or a guestimate.

[ken0042]

Looks like you and I are about the same boat, Browna. I moved in in Feb 2005 and the assesment from that year only went up a little bit. But looking at the houses in my area that are the same as mine; they all went up about the same amount.

[Frank the Tank]

You guys can appeal the assessed value of your house. (....at least in Ontario....) I did it a few years ago when I got an assessment that was a lot higher than I thought it should have been. Had $25,000 knocked off the value of my house. It helped and was free to do, just had to take the time to do it.

[ken0042]

Originally Posted by Frank the Tank

You guys can appeal the assessed value of your house.

Unfortunately, I think an appeal would send the value up, not down.

Because my house is a "cookie cutter" standard home, there are several identical to mine within a couple of blocks. The last two that sold went for 10K and 15K more than my assesment; and my house has a much bigger lot. (A pie lot.)

And last years assesment that came out a month after I bought my house was for $3K less than what I had just paid for it.

I'm not trying to complain, just saying "well isn't that neat."

[Shazam]

The assessment is usually less than the sale price of your house, since your sale price includes fees and other assets (curtains, blinds, appliances, whatever else the new owners wanted from you) in addition to the value of your house.

[Reaper]

Originally Posted by fotze

Mine went up 21% or $47,000 smackers. That is up 79% from 2002. Wholly ****, where is my overpass!!!

Bronco will build you one as long as your neighbor doesn't object to your backyard casino.

[Frank the Tank]

Originally Posted by ken0042

Unfortunately, I think an appeal would send the value up, not down.

Because my house is a "cookie cutter" standard home, there are several identical to mine within a couple of blocks. The last two that sold went for 10K and 15K more than my assesment; and my house has a much bigger lot. (A pie lot.)

And last years assesment that came out a month after I bought my house was for $3K less than what I had just paid for it.

I'm not trying to complain, just saying "well isn't that neat."

Well that makes sense. Property tax is a fun thing isn't it?

[ken0042]

Originally Posted by fotze

Wholly ****, where is my overpass!!!

Bell went and told the city that you are now living in Kirkland Lake, so no overpass for you!

[Tron_fdc]

Well, mine is all screwed up. They assessed my neighbour at the value of both our homes combined. She's in for a shock when the tax bill comes in......and in the mean time my house doesn't exist.

I've called land titles repeatedly, and all they say is "we're waiting for the paperwork". Fine then, I'm happy with all my Enmax bills going next door too.

*runs off to start a grow op*

[Cube Inmate]

Just thought I'd take the opportunity to complain about the "market value"-based taxation system. While it may seem like a good idea, there are situations where it's a little unfair.

My grandparents bought their house almost 60 years ago, when it was in Calgary's suburbs. Now, it happens to be assessed at almost 900K because of its ideal inner-city location. You think my widowed, 89-year-old grandmother can afford to pay taxes on that? It's not easy.

Sure, she could sell the house and be an instant millionaire...but that's not the point...it's her home. Why is she paying 5x as much for the privilege of owning it as someone who lives in the burbs, when that suburbanite likely uses far more of the city's services?

Just a rant.

[Incinerator]

Originally Posted by Cube Inmate

Just thought I'd take the opportunity to complain about the "market value"-based taxation system. While it may seem like a good idea, there are situations where it's a little unfair.

My grandparents bought their house almost 60 years ago, when it was in Calgary's suburbs. Now, it happens to be assessed at almost 900K because of its ideal inner-city location. You think my widowed, 89-year-old grandmother can afford to pay taxes on that? It's not easy.

Sure, she could sell the house and be an instant millionaire...but that's not the point...it's her home. Why is she paying 5x as much for the privilege of owning it as someone who lives in the burbs, when that suburbanite likely uses far more of the city's services?

Just a rant.

I'm only 7 minutes from downtown, I'd gladly trade my condo with your grandparents' house I'll give you 300k as commission after I sell it too!

[calculoso]

Originally Posted by Cube Inmate

Just thought I'd take the opportunity to complain about the "market value"-based taxation system. While it may seem like a good idea, there are situations where it's a little unfair.

My grandparents bought their house almost 60 years ago, when it was in Calgary's suburbs. Now, it happens to be assessed at almost 900K because of its ideal inner-city location. You think my widowed, 89-year-old grandmother can afford to pay taxes on that? It's not easy.

Sure, she could sell the house and be an instant millionaire...but that's not the point...it's her home. Why is she paying 5x as much for the privilege of owning it as someone who lives in the burbs, when that suburbanite likely uses far more of the city's services?

Just a rant.

Why not use the same "logic" with stocks? or antiques? (I bought it 30 years ago.. what do you mean I have to pay all these taxes when I want to sell my stocks?)

Your grandma also gets all the added benefits of being in the inner city - close to everything, pretty decent public transportation, etc - things that those of us in the outlying areas don't get.

Face it. Property is an investment as well as a home. Don't like it? Too bad. Move.

[Reaper]

Originally Posted by calculoso

Why not use the same "logic" with stocks? or antiques? (I bought it 30 years ago.. what do you mean I have to pay all these taxes when I want to sell my stocks?)

Your grandma also gets all the added benefits of being in the inner city - close to everything, pretty decent public transportation, etc - things that those of us in the outlying areas don't get.

Face it. Property is an investment as well as a home. Don't like it? Too bad. Move.

You going over to put grandma in a headlock while thugs trample her flowerbeds, too?

[Cube Inmate]

Originally Posted by calculoso

Why not use the same "logic" with stocks? or antiques? (I bought it 30 years ago.. what do you mean I have to pay all these taxes when I want to sell my stocks?)

Your grandma also gets all the added benefits of being in the inner city - close to everything, pretty decent public transportation, etc - things that those of us in the outlying areas don't get.

Face it. Property is an investment as well as a home. Don't like it? Too bad. Move.

Dude... you pay capital gains taxes when you sell your stocks, antiques, or houses all in the same way. You don't pay a yearly fee for the privilege of owning that antique piano you bought 60 years ago.

And to clarify, IF property taxes were based on services provided, you might be able to make an argument for higher taxes in the inner city. On the other hand, we (me included) who live in the burbs are probably more demanding users...we use the roads more, for one thing. In fairness, WE should be taxed more.

My point is, if the idea of market value assessment is to tax those who can afford it at a higher rate, it's far from foolproof.

[calculoso]

Originally Posted by Reaper

You going over to put grandma in a headlock while thugs trample her flowerbeds, too?

Nah... I'll just send a littering mini-van driving jerk to throw food into her flowerbeds, then stand back and watch the battle....

[Bobblehead]

Originally Posted by Cube Inmate

Dude... you pay capital gains taxes when you sell your stocks, antiques, or houses all in the same way.

There is no capital gains tax on the sale of a principle residence. On investment properties you are correct.

Additionally, your stocks are ownership shares of corporations that pay taxes annually, and your antiques may be worth something, maybe not, but regardless antiques don't need streets, or police protection or fire protection or other things the city provides.

It sucks that people who have lived in homes forever may not be able to afford the taxes, but that is the fairest way there is right now to figure out everybody's share. If there is a better way, then run for mayor against Bronco; the City of Calgary needs you.

[calculoso]

Originally Posted by Cube Inmate

My point is, if the idea of market value assessment is to tax those who can afford it at a higher rate, it's far from foolproof.

So, basically what you're saying, is that those who can afford to pay should pay more....

And yet those who live in some of the most expensive houses shouldn't have to pay as much?

Simply comes down to this: If you can't afford it, move. Don't live in such a large and expensive house if you don't want the tax payments.