You Know What Really Grinds My Gears? Now with 3x more gears...

[Locke]

Yes?

[Slava]

Originally Posted by RichieRich

Come to beef about my property taxes going up nearly 20%. Extremely unlikely the house could sell for anywhere close to that. And even last years value was a bit over 10% higher than the year before. Which I did not agree with. No home or property changes in about 10 years.
Is this how our city council is looking to increase revenues? By artificially escalating estimated home values?

I was curious about where that assessment would land in comparison to what our place would sell for today. I’m nowhere near wanting to sell, and just curious as to how close the city assessments are to the overall market at this point.

[GGG]

Originally Posted by RichieRich

Come to beef about my property taxes going up nearly 20%. Extremely unlikely the house could sell for anywhere close to that. And even last years value was a bit over 10% higher than the year before. Which I did not agree with. No home or property changes in about 10 years.
Is this how our city council is looking to increase revenues? By artificially escalating estimated home values?

You just failed the do you know how property taxes work test.

No inflating property values does not increase revenues for the city. Mill rate is total budget / total property value. The relative value of your property compared to ROC affects your taxes. Just going up does not. The city does not benefit

[GGG]

Originally Posted by MelBridgeman

Yes.
Gondek is a master at sleight of hand politics.

What’s funny is that given the relative value increases of urban properties relative to rural properties the provincial portion of taxes is shifting the burden from rural to urban. So while the province hasn’t raised the total amount collected yet it has increased the urban portion of the burden. (That potentially comes in April)

In the same manner if SFHs or inner city rise more than the burbs or condos then the burden of taxation shifts.

Also it’s likely that because of this affect your provincial portion of property taxes went up more in both percentage and absolute dollars than your city portion.

If you want to see the breakdown this calculator helps
https://www.calgary.ca/property-owne...alculator.html

Care to revise your statement?

[Erick Estrada]

Originally Posted by kevman

Is it because old guys don't care anymore or is it because they never cared?

Old pools have communal showers where as the new ones usually have shower stalls. Those guys grew up naked around other guys and probably didn't care when they were younger too.

It's also mildly interesting to me that at the same facility the women's showers are often stalled when the men's are still communal.

Depends on the age of the facility. The gym I'm at and other newer gyms have separated showers for men as well. I actually don't care about the communal shower vs separated showers as people just go in to do their business and get out. It's the old fellas lounging around naked in the change room because they have nowhere else to be. The depiction above is almost 100% representative of what happens in today's change rooms.

[Weitz]

Originally Posted by GGG

You just failed the do you know how property taxes work test.

No inflating property values does not increase revenues for the city. Mill rate is total budget / total property value. The relative value of your property compared to ROC affects your taxes. Just going up does not. The city does not benefit

While it doesn’t increase revenues for the city as that is fixed, it absolutely increases your taxes paid when they artificially increase your assessed value.

[PepsiFree]

Originally Posted by Weitz

While it doesn’t increase revenues for the city as that is fixed, it absolutely increases your taxes paid when they artificially increase your assessed value.

What makes it artificial? My assessment went up 20%… still less than what the sold houses on my street went for this year.

[Weitz]

Originally Posted by PepsiFree

What makes it artificial? My assessment went up 20%… still less than what the sold houses on my street went for this year.

Did I say every house had artificial assessment increases?

[Shazam]

My house got a boob job, that's why it's worth more.

[Locke]

Originally Posted by Shazam

My house got a boob job, that's why it's worth more.

Thats definitely one way to increase your TIPPs...

[Fuzz]

Originally Posted by Weitz

While it doesn’t increase revenues for the city as that is fixed, it absolutely increases your taxes paid when they artificially increase your assessed value.

Define "artificially" in this case.

Again, if your assessment went up 14%, that's neutral. The only increase is from the city budget percent rise. If yours went up 19%, that would mean a 5% increase based on property value. Not 19%. And then you'd have to assume the city is artificially decreasing or raising values less than the average on the bottom half of homes for your theory to stand. The values change based on many factors, but I think the big one is sale prices in your neighborhood, so it's not artificial at all. It's property values increasing.

Is this bad info being spread on 770 radio? Why do we have to go through this every year?

[GGG]

Originally Posted by Weitz

Did I say every house had artificial assessment increases?

I wouldn’t say it’s artificial. To me that implies that some sort of intent.

If you rephrased it to With the assessment process being as broad and automated as it is some properties end up overvalued to what they would sell for? Absolutely.

I think the mistake people make is assuming it will correct itself. Your relative value within your class of house in your neighborhood does not appear to change based on what I can tell.

The attach garage homes in my neighborhood on the few I track all went up the same amount

[PepsiFree]

Originally Posted by Weitz

Did I say every house had artificial assessment increases?

Did I say you said that? I asked you what made it artificial. Sorry if that struck a nerve?

[Weitz]

Originally Posted by GGG

I wouldn’t say it’s artificial. To me that implies that some sort of intent.

If you rephrased it to With the assessment process being as broad and automated as it is some properties end up overvalued to what they would sell for? Absolutely.

I think the mistake people make is assuming it will correct itself. Your relative value within your class of house in your neighborhood does not appear to change based on what I can tell.

The attach garage homes in my neighborhood on the few I track all went up the same amount

My previous assessment value was above what houses were selling for. Over the year it seemed prices had stabilized. This year we’re up just shy of $100,000. Seems artificial to me. My neighbors houses were assessed similarly.

[Johnny Makarov]

You should ask Azure what he pays in Winnipeg. One of my coworkers bought a rental there about 15 years ago and prop tax was almost double what we paid here.

[Bigtime]

Originally Posted by Johnny Makarov

You should ask Azure what he pays in Winnipeg. One of my coworkers bought a rental there about 15 years ago and prop tax was almost double what we paid here.

Yes, but they actually remove snow on their streets and sidewalks. It's glorious (but still Winnipeg)!

[GGG]

Originally Posted by Weitz

My previous assessment value was above what houses were selling for. Over the year it seemed prices had stabilized. This year we’re up just shy of $100,000. Seems artificial to me. My neighbors houses were assessed similarly.

Arbitrary might be better. The formula spits out a number. 100k seems pretty typical for the real estate market in Calgary this past year. You probably live in a little above the median value home.

Do you think your neighborhood for some reason went up less than the rest of Calgary?

There is a process if you want to contest the assessment which if you are really out of whack with sale prices you can go through. I’ve never done it though.

[Locke]

Originally Posted by Johnny Makarov

You should ask Azure what he pays in Winnipeg. One of my coworkers bought a rental there about 15 years ago and prop tax was almost double what we paid here.

I used to have a property in Ontario and the Property Taxes on that thing were out-goddamned-rageous. It was about half the size of my Calgary house and it was quadruple my Calgary taxes.

You'll note...I don't complain about Calgary property taxes.

We've got it pretty good. I dont know about going farther East but Ontario pays outrageous property taxes. In my personal anecdotal experience.

[Shazam]

It’s made up by our utility bills.

[Locke]

Originally Posted by Shazam

It’s made up by our utility bills.

Have you seen the cost of Utilities in Ontario?

Ontario Hydro might as well be the Mafia, I couldnt wait to get rid of my Ontario property.