2007 Calgary Assessment values released on website

[Bertuzzied]

Holy crap. who cares about how much they assessed my house. Now I'm going to be paying around $550/month in property taxes. I should have stayed in my townhouse.

[ken0042]

Originally Posted by Kobatuzzied

Holy crap. who cares about how much they assessed my house. Now I'm going to be paying around $550/month in property taxes. I should have stayed in my townhouse.

And this is what gets me. My taxes went down a couple of bucks per month. Not that I am complaining from my own standpoint, but those $7 per month won't really affect me, but other people's going up may affect them. I would have been happy if the city told me my taxes were staying the same.

[The Goon]

Wow. From $230K last year to $326K this year.

[Bertuzzied]

Originally Posted by ken0042

And this is what gets me. My taxes went down a couple of bucks per month. Not that I am complaining from my own standpoint, but those $7 per month won't really affect me, but other people's going up may affect them. I would have been happy if the city told me my taxes were staying the same.

I've only been in the house 2 years. $175/month the first year $306 currently and now over $550. I highly doubt i can sell my house for 3 times what i bought it for. I'm not even sure if I can argue this. My neighbors are even insanely higher.

[someguy51]

Mine went up a ton! I was very lucky last year though. We bought a new townhouse and when the city assed the value it was before the place was even built. They told us they would re-asses during the year but they never did. We paid about $200 for the entire year. This year it looks to be more like $1750!

[Bertuzzied]

Originally Posted by someguy51

Mine went up a ton! I was very lucky last year though. We bought a new townhouse and when the city assed the value it was before the place was even built. They told us they would re-asses during the year but they never did. We paid about $200 for the entire year. This year it looks to be more like $1750!

It's like that with all new properties. I only paid $225 for the entire year of 2006 for my condo. Now this year... hehe

[someguy51]

Originally Posted by Kobatuzzied

It's like that with all new properties. I only paid $225 for the entire year of 2006 for my condo. Now this year... hehe

Do you have a street sign, yet? I've lived in my new place for over a year and I still don't have a street sign. Its really tough to give people directions.

I called the city last year and complained about it. I told them what if there was an emergency and the ambulance/fire truck/police couldn't find it. They assured me they would know where it was...

Now that I'm paying full taxes I think I'll have to complain some more.

[Bill Bumface]

Originally Posted by Flames_Gimp

wow, do all rich people complain? lol

I think you mean brag. I'm pretty sure the person in question will have no problem covering their property taxes.

[Bertuzzied]

Originally Posted by someguy51

Do you have a street sign, yet? I've lived in my new place for over a year and I still don't have a street sign. Its really tough to give people directions.

I called the city last year and complained about it. I told them what if there was an emergency and the ambulance/fire truck/police couldn't find it. They assured me they would know where it was...

Now that I'm paying full taxes I think I'll have to complain some more.

I'm pretty sure they do. I don't live there so I'm not sure. It's in Varsity so i'm sure there must be existing street signs from before.

Actually I lied. I paid $425 in property taxes last year on it. Thats less than 1 month at my house.

[TheyCallMeBruce]

Originally Posted by The Goon

Wow. From $230K last year to $326K this year.

What the...are you my neighbour?

[Lurch]

I've only been in the house 2 years. $175/month the first year $306 currently and now over $550. I highly doubt i can sell my house for 3 times what i bought it for. I'm not even sure if I can argue this. My neighbors are even insanely higher.

Are you serious or did you just make this up? $550/month works out to $6600 per year. This year's tax rate is 0.005411 (by my calculation at any rate) which suggests your house is appraised at $1.2 million. Last year's tax rate was 0.007683, while you say your tax bill was $306/month, or $3672 per year. This works out to an assessed value of $477,000 for last year. So, your assessment increased by 250% between 2005 and 2006? I can't believe the city would try and pull that one off, but I guess stranger things have happened.

Regardless, I think there is a huge misconception about how property tax works in this thread - either that or some people hit the jackpot with equity even moreso than the typical Calgarian. The key, which has been noted elsewhere, is that unless your assessment went up more than 42%, you will pay exactly what you paid last year.

[Bertuzzied]

Originally Posted by Lurch

Are you serious or did you just make this up? $550/month works out to $6600 per year. This year's tax rate is 0.005411 (by my calculation at any rate) which suggests your house is appraised at $1.2 million. Last year's tax rate was 0.007683, while you say your tax bill was $306/month, or $3672 per year. This works out to an assessed value of $477,000 for last year. So, your assessment increased by 250% between 2005 and 2006? I can't believe the city would try and pull that one off, but I guess stranger things have happened.

Regardless, I think there is a huge misconception about how property tax works in this thread - either that or some people hit the jackpot with equity even moreso than the typical Calgarian. The key, which has been noted elsewhere, is that unless your assessment went up more than 42%, you will pay exactly what you paid last year.

Well not 1.2 million but it doubled from last year. .00541 seems low. i thought it was around .8 percent of your assessment value??

[The Goon]

Originally Posted by TheyCallMeBruce

What the...are you my neighbour?

I'm in Signal Hill.

So is it officially 42% that is the line between property taxes increasing or staying the same? It looks like I barely clear that at 41.7%.

[looooob]

mother of pearl...normally I think they undervalue my home, but this is higher value than I thought. as I am selling in the next few months, I can only dream it is worth this much

[Bertuzzied]

Originally Posted by looooob

mother of pearl...normally I think they undervalue my home, but this is higher value than I thought. as I am selling in the next few months, I can only dream it is worth this much

That is perfect. These huge increases only help you if you are planning to sell. I wonder how those old retired couples on our block are going to re-act.

[Incinerator]

you think you guys got it bad, mine went up 48% and I got a special assessment coming in June so I can't even sell my damn place! there's already 3 units sitting here for over 4 months and their prices are almost matching the assessed value after all the reductions!

[Bertuzzied]

Originally Posted by Incinerator

you think you guys got it bad, mine went up 48% and I got a special assessment coming in June so I can't even sell my damn place! there's already 3 units sitting here for over 4 months and their prices are almost matching the assessed value after all the reductions!

Why can't you sell?

[Incinerator]

Originally Posted by Kobatuzzied

Why can't you sell?

Would you buy a condo for market value if you know there's TWO special assessments coming in the next two years?

[ken0042]

OK, I still don't follow you Incinerator.

[Bertuzzied]

Originally Posted by ken0042

OK, I still don't follow you Incinerator.

Me too. So is the assessment going to be more? Most places sell for way above their assessed value.

Well maybe not so much more with this insane assessment.