2009 Property Assements are on the city website

[Nancy]

Mine is down by about 8%

http://dmzwww2.gov.calgary.ab.ca/fai...rchOptions.asp

[Nancy]

Oops, typo in the thread title!

[Dan02]

Mines down 12, but what is interesting for me, is last year i thought our assessed value was significantly higher then it should have been in relation to our neighbours, and now for whatever reason it seems to have been corrected, so while mine is down rather significantly, the average for my neighbours doesn't seem to be off much at all.

[DementedReality]

well, if someone wants to buy my house for that much, i will even give them a 5% discount!

do these carry any weight with the bank?

[Torture]

Somehow the crappy basement suite that I rent got assessed about 100,000 higher than the really nice house that my brother rents lol.

I don't think anybody would ever spend $580,000 on this crappy house.

[Nancy]

Originally Posted by DementedReality

well, if someone wants to buy my house for that much, i will even give them a 5% discount!

do these carry any weight with the bank?

I doubt it.

FYI, the assessment is based on market conditions at the beginning of July of last year, not as of today. Looking at my assessment, it might have been realistic for July, but not for today.

[ken0042]

Looks like the city's site is down. I get a message that the are updating it.

[Nancy]

Originally Posted by ken0042

Looks like the city's site is down. I get a message that the are updating it.

Try the "Search by Map." It seems to be working at the moment. It will show you the assessments of everyone on your street on a map.

[Bobblehead]

I got that message earlier, but it seems like it is back up now.

And my assessment dropped 5%.

[ken0042]

Mine went down by about 2%.

Funny- there are 3 houses identical on my street- same build; same upgrades, etc. Mine and another are 368,500 and 369,000. The third is 344,500. And that lower number is pretty close to the true value; as that is about what it sold for in the fall.

[AFireInside]

Originally Posted by ken0042

Mine went down by about 2%.

Funny- there are 3 houses identical on my street- same build; same upgrades, etc. Mine and another are 368,500 and 369,000. The third is 344,500. And that lower number is pretty close to the true value; as that is about what it sold for in the fall.

If it sold for 344,500 in the fall depending on when, then the higher number is likely more accurate. As someone said above, the assessment is based on what the house would have sold for on July 1st. As for why the values are different for identical houses, can't really explain that one. There are other factors besides just build and upgrades though.

[Esoteric]

Wow, out of all the houses on the street I live on, the house I live in has the highest assessed value. And these houses are all pretty much identical to each other....

[Ozy_Flame]

My place dropped in value by about $30k, but it's still the highest of all condos on my floor by a large margin, which effectively makes it the least marketable unit. Hurray?

[Wookie]

I think mine dropped by 20k approx. 5% I'll have to look at last years and check.

[burn_this_city]

Im glad to be renting.. I wouldnt be able to afford this condo after looking at its assesement..

[JD]

Well I had my condo on the market for about 5 months, listed at ~330,000, and they've assessed the value at 360,000.

Given the fact that I got only one lowball offer and ended up taking it off the market, I'd say the assessment is either a little behind or just plain wrong!

[ken0042]

Originally Posted by burn_this_city

Im glad to be renting.. I wouldnt be able to afford this condo after looking at its assesement..

Keep in mind what assesment is- the way the city determines how much tax a person owes in relation to everybody else.

Seeing as this comes up every tax thread, I'm going to explain it again. I'm also going to simplify things so my numbers won't be accurate; more a reflection of how the mechanics work.

BTC and I each own property. We have idendical houses worth $325,000 each. So we each pay $2000 per year in taxes. I do a bunch of renovations to my house, so the following year my house is valued at $400k. BTC's house has stayed the same, and with the current market has gone down to $300k. So for the next year, BTC's taxes stay at $2000, and mine go up to $2660.

Now, let's say we are in an upswing market and the values go up. Let's say also that neither of us does any renos. Now our houses are worth $450k, but our taxes stay the same because relative to everybody else, our house prices went up at the same rate.

[burn_this_city]

Originally Posted by ken0042

Keep in mind what assesment is- the way the city determines how much tax a person owes in relation to everybody else.

Seeing as this comes up every tax thread, I'm going to explain it again. I'm also going to simplify things so my numbers won't be accurate; more a reflection of how the mechanics work.

BTC and I each own property. We have idendical houses worth $325,000 each. So we each pay $2000 per year in taxes. I do a bunch of renovations to my house, so the following year my house is valued at $400k. BTC's house has stayed the same, and with the current market has gone down to $300k. So for the next year, BTC's taxes stay at $2000, and mine go up to $2660.

Now, let's say we are in an upswing market and the values go up. Let's say also that neither of us does any renos. Now our houses are worth $450k, but our taxes stay the same because relative to everybody else, our house prices went up at the same rate.

I was using the assessed value as an indication of what I would have likely paid in the spring or summer if I bought this place.. I could probably take 15% off and be pretty close to what this place is worth now.

[lazy_programmer]

Does anybody know what the mill rate ( I think that's what it's called) for this year is?

[Prototype]

Went from about 345ish to 315ish... oucha!