Property Tax Question - Calgarypuck Forums - The Unofficial Calgary Flames Fan Community

Nikki · 10-30-2008, 12:23 PM

We took possession of our new condo in Jan, the building was completed in April. We have never received a property assessment and looking online on the City's website, it is still showing as undeveloped land. Does anyone know if we will eventually have to pay back taxes? Has this happened to anyone else?

TIA

troutman · 10-30-2008, 12:29 PM

Quote:

Originally Posted by Nikki

We took possession of our new condo in Jan, the building was completed in April. We have never received a property assessment and looking online on the City's website, it is still showing as undeveloped land. Does anyone know if we will eventually have to pay back taxes? Has this happened to anyone else?

TIA

You will be assessed eventually, but the builder will have to make an adjustment with you for their share of the taxes in 2008 (depending when you took possession in January).

Nikki · 10-30-2008, 12:36 PM

Quote:

Originally Posted by troutman

You will be assessed eventually, but the builder will have to make an adjustment with you for their share of the taxes in 2008 (depending when you took possession in January).

Thanks Troutman

Do you have any idea how long it typically takes (I go off on Mat leave in Jan and would really prefer to have this cleared up before then instead of getting slammed with a big bill)? They are suppose to be building 5 more buildings on the same lot but have stopped due to the slow market.

troutman · 10-30-2008, 12:55 PM

Difficult to say for sure, but in many cases it seems to happen about six months after building completion. Maybe the condo board or property manager can provide you some information. The builder's lawyer can probably provide an update.

Mike Oxlong · 10-30-2008, 02:14 PM

Is this the Cardel development in McKenzie Towne by any chance Nikki?

We have a unit in there as well and I just spoke with the City and they told me all taxes have been paid for 2008 already by the builder.

I have no idea if Cardel is going to or will be able to come back to us to get that money back.

If it isn't the development, then never mind I guess......

Nikki · 10-30-2008, 02:44 PM

Quote:

Originally Posted by Mike Oxlong

Is this the Cardel development in McKenzie Towne by any chance Nikki?

We have a unit in there as well and I just spoke with the City and they told me all taxes have been paid for 2008 already by the builder.

I have no idea if Cardel is going to or will be able to come back to us to get that money back.

If it isn't the development, then never mind I guess......

Yes it is.

Thanks for letting me know. I didn't want to call the city and stir the pot

After all the trouble I have had with Cardel I wouldn't be surprised if they do try that.

Mike Oxlong · 10-30-2008, 02:48 PM

I have no idea if they can. I don't remember seeing anything in the contract about it but then again I wasn't looking for it either.

I'll have to have a look through the contract and see. I don't know if they can ask us to pay those taxes or not. Maybe Troutman would know?

The reason we haven't been sent an assesment yet is because they still haven't subdivided the units. According to the city they are still all under Cardel's name.

Be nice to have almost a year of free taxes.

You must be on the first floor of the first building. We are up on the 4th floor of that building.

troutman · 10-30-2008, 02:56 PM

Quote:

Originally Posted by Mike Oxlong

I have no idea if they can. I don't remember seeing anything in the contract about it but then again I wasn't looking for it either.

I'll have to have a look through the contract and see. I don't know if they can ask us to pay those taxes or not. Maybe Troutman would know?

The reason we haven't been sent an assesment yet is because they still haven't subdivided the units. According to the city they are still all under Cardel's name.

Be nice to have almost a year of free taxes.

You must be on the first floor of the first building. We are up on the 4th floor of that building.

I'm sure in your Statement Of Adjustments there will be a note at the bottom explaining how future tax assessments will be adjusted between vendor and purchaser.

Nikki · 10-30-2008, 02:58 PM

Quote:

Originally Posted by Mike Oxlong

I have no idea if they can. I don't remember seeing anything in the contract about it but then again I wasn't looking for it either.

I'll have to have a look through the contract and see. I don't know if they can ask us to pay those taxes or not. Maybe Troutman would know?

The reason we haven't been sent an assesment yet is because they still haven't subdivided the units. According to the city they are still all under Cardel's name.

Be nice to have almost a year of free taxes.

You must be on the first floor of the first building. We are up on the 4th floor of that building.

I looked at the contract but didn't see anything

I kinda figured that but it makes me wonder how we have titles then. I believe I got ours in March or April. If you look at the City's website it shows the assessed value of 7.8 million.

That is very very true

Yes we are, and it has been nothing but trouble. Are you able to actually control the heat in your unit? Our upstairs neighbours are very noisy too. I am very disappointed in the overall craftmanship of our place as well. Oh well, live and learn I guess.

Mike Oxlong · 10-30-2008, 03:53 PM

We don't actually live in the unit. We are renting it out so I can't comment on the heat issues or anything else. It's not the most amazingly hand crafted place I have ever seen but overall there weren't too many issues with our unit. Hopefully they learned from the mistakes they made on your unit

It will be interesting to see if we will get a call from Cardel wanting a bunch of taxes or not.

troutman · 10-30-2008, 03:55 PM

Quote:

Originally Posted by Mike Oxlong

We don't actually live in the unit. We are renting it out so I can't comment on the heat issues or anything else. It's not the most amazingly hand crafted place I have ever seen but overall there weren't too many issues with our unit. Hopefully they learned from the mistakes they made on your unit

It will be interesting to see if we will get a call from Cardel wanting a bunch of taxes or not.

I can assure you builders don't pay property taxes for buyers out of the kindness of their hearts.

Nancy · 10-30-2008, 04:11 PM

Can't speak for condos, but I was told that for detached homes, the city will frequently use the pretax sale price for the first year assessment... I would use that if you are trying to estimate what you will have to pay next year.

Bigtime · 10-30-2008, 04:27 PM

Quote:

Originally Posted by troutman

I can assure you builders don't pay property taxes for buyers out of the kindness of their hearts.

Absolutely true. You will definitely be getting a letter from their law firm advising you of the amount that must be paid for the 2008 taxes. If the entire building isn't fully completed or occupied they will explain the calculation used to determine the tax amount you will be charged. There may also be an adjustment for condo fees paid on your behalf before your property management company starts directly collecting from you.

This is what happened with both of my condos that I bought over the last few years.

Nikki · 10-31-2008, 10:55 AM

Quote:

Originally Posted by Bigtime

Absolutely true. You will definitely be getting a letter from their law firm advising you of the amount that must be paid for the 2008 taxes. If the entire building isn't fully completed or occupied they will explain the calculation used to determine the tax amount you will be charged. There may also be an adjustment for condo fees paid on your behalf before your property management company starts directly collecting from you.

This is what happened with both of my condos that I bought over the last few years.

That happened back in April. I thought if we were getting something from Cardel we would have gotten it already, we have been in our condo for 10 months and the building fully occupied since April.

Bigtime · 10-31-2008, 11:09 AM

If that is the case I wonder if you will be getting the notification from the city then for taxes that would have been due for 2008.

Nikki · 10-31-2008, 11:28 AM

Quote:

Originally Posted by Bigtime

If that is the case I wonder if you will be getting the notification from the city then for taxes that would have been due for 2008.

According to the city Cardel has already paid them for 2008

Bigtime · 10-31-2008, 11:59 AM

Quote:

Originally Posted by Nikki

According to the city Cardel has already paid them for 2008

If that is the case I would be absolutely amazed if Cardel didn't get this money back from all the buyers.

Mike Oxlong · 10-31-2008, 02:05 PM

Yeah I am fully expecting a letter from Cardel asking for the cash. I realize they won't be paying those for us out of the goodness of their hearts......

Our bank has actually been taking money every month to put towards taxes. I guess I will just direct Cardel their way.

Nikki · 12-02-2008, 08:41 AM

So, yesterday in the mail, I got our assessment for 2008 ~ did you get yours Mike? It says that the building was completed November 2008

Mike Oxlong · 12-02-2008, 10:39 AM

I haven't seen mine yet but I am sure it is there.

My brother and sister in law have a place in that building as well and when they called the city to try and get the taxes straightened out they were told a whole different story than mine.

The City told them the taxes were not paid by Cardel but that the building hadn't even been assesed yet. They had till the end of the year to assess it and then we would be issued tax statements.

Looks like that is what has happened. Without being too nosy can you let me know what they are charging you? Did they end up charging us for the year or just since November when it was assesed?