Property assessment value for tax purposes... voodoo magic or scientific analysis?

[Rerun]

Now that the appeal process is over and all the final assessed values are in, I thought I would check out the 2010 (actually July 2009) assessed values of the homes on my cul-de-sac here in Okotoks.

The town of Okotoks states that the assessment change for a single family detached residential dwelling in Okotoks is -14%.

According to the town's assessment map, the area where I live had assessment changes between -10% and -15%. There are 11 houses on my cul-de-sac.

The change is assessed value of these houses are as follows:

House #1: -5.74%
House #2: -3.64%
House #3: -16.8% (This is my house. Originally my assessed value only dropped 2.81%. I complained and they dropped it to 16.8%)
House #4: -11.23%
House #5: -21.50%
House #6: -1.66%
House #7: -0.30%
House #8: -2.31%
House #9: -21.56%
House #10: -7.70%
House #11: -15.01%

I mean WTF? A range of 0.3% to 21.56%?

These are all nice houses approximately 4 to 7 years old. with an average current assessed value of $515,000. All the properties are well maintained and no significant changes have been made to any of the properties.


I figure that those with double digit drops in the assessed values appealed the original assessment which came out in March 2010 and all the others didn't.

Maybe I'm wrong, but I feel there in no way should be a 21% difference in the drop in value between two houses on the same cul-de-sac.

[mykalberta]

You lost me at Okotoks.

[Rerun]

Not much difference between in property values between Okotoks and Calgary.... other than the mill rate.

I also suspect there probably isn't much difference in the way both places determine the assessed value of your home. On average I bet a lot of people's assessment is way too high given the current housing price conditions.

Calgary's is 0.0058734 therefore on a $500,000 house you pay $2936 in taxes
Okotok's is 0.006727 therefore on a $500,000 house I pay $3363 in taxes (which sucks... I guess ya gotta pay a premium for that small town /country living.)

[algernon]

I would like it if your taxes were a little higher to support City roads that you use.

[mykalberta]

I know for mine its low compared to similar units that just recently sold.

I never complain about property taxes in Calgary after what I saw a similar type of condo gets charged for tax in Edmonton - wow - almost a $500 difference year over year.