Property Tax Assessment

[max_boost]

Well just got my property tax assessment, property assessment value went up 37% but the taxes went up 25% :eek: This one's going to hurt. :(

What about you guys?

[Impreza]

Our taxes went up about 12%, but the assessment stated an increase of about 23% in the value of our house.

[Ben]

Gotta love sending the city a bill for 4k.

[t-im]

Originally posted by Ben
Gotta love sending the city a bill for 4k.

hahaha try 8k :(

[JordanLotoski]

hahaha my homes worth 549k...was assed at 366k, and my mill rate was reduced to .0073 ...2600 a month..aww i love the way this city works

[GQBalla]

ohh my dad just got his today.

lol i should go take a look at it

[ronaldo]

our property tax went down and the assesment went up:D

[Oz-]

Mine went up about 10% total assessmentwise, but my taxes went down a bit. Last year we got wasted by the property tax, it went up over 45% from the previous year.

Still not complaining though, since they value it a lot less then it would sell on the market.

[Mr. Burns]

Originally posted by ronaldo
our property tax went down and the assesment went up:D :werd:

[89coupe]

LOL...mine only went up 12%

But the funny thing is, i just had my place appraised the other day and it came in 62% higher then what the city appraised it at...LOL...so I can't complain.

[B20EF]

My property assessment went down. :confused:

I live in a condo downtown, wtf.

Oh well cheaper property taxes:)

[lastprodigy]

Hey, if a realtor could chime in on this...I have hear that VERY GENERAL way of coming up with a list price would be 10-15% over the tax assesed price...now I know its not accurate in all cases but how true is it?

[Billet]

wow, everything jumped up crazy

mine went up 10% and I am complaining



Originally posted by lastprodigy
Hey, if a realtor could chime in on this...I have hear that VERY GENERAL way of coming up with a list price would be 10-15% over the tax assesed price...now I know its not accurate in all cases but how true is it?


selling price is assesed price. listing is asking for 10% more knowing full well your going to get 10% less than asking

[69cougar]

Originally posted by Billet
wow, everything jumped up crazy

mine went up 10% and I am complaining





selling price is assesed price. listing is asking for 10% more knowing full well your going to get 10% less than asking

Not to many houses list for assessed value look up a few threads at MIWFYSHOT post hes a realtor look at his assesed vs selling price

[89coupe]

Originally posted by lastprodigy
Hey, if a realtor could chime in on this...I have hear that VERY GENERAL way of coming up with a list price would be 10-15% over the tax assesed price...now I know its not accurate in all cases but how true is it?

LOL, try 60% more.

[t-im]

Originally posted by lastprodigy
Hey, if a realtor could chime in on this...I have hear that VERY GENERAL way of coming up with a list price would be 10-15% over the tax assesed price...now I know its not accurate in all cases but how true is it?

I don't agree with that ! most realtors I talked to say city assesment is garbage.

On the news yesterday, a alderperson was saying how city assesment is already "not accurate," since they were finalized last july and the market has significantly changed since then.

[legendboy]

my assessment went up 20%

[89coupe]

Of course its not accurate.

My 2006 assessment came in $15000 less then what I purchased the place for 3 years ago...LOL

[rockym20]

My assessment went up by only around $10,000 (under 5%), but the market value has gone up by $80,000 - $100,000.

[lastprodigy]

Yeah, thanks...one of our assesments went up about 15%....well see how this goes:D

[JordanLotoski]

^^ In regards to your question. The city appraises your home for taxes purposes based on a few things

Lot size
home size
lot location (backing ridge, park...ect..)

The city never takes into account the 100k in upgrades, 50k in Landscaping or the fact your homes in a very desirable area.

Hope that helps

[HRD2PLZ]

City takes an average of the area and bases it on the criteria stated above. My place is assessed at about $20K less than market value.

[bigboom]

Originally posted by B20EF
My property assessment went down. :confused:

I live in a condo downtown, wtf.

Oh well cheaper property taxes:)


a condo is typically a depreciating asset...

[benyl]

They also take into account the price at which homes have sold in your area.

At least that is what the city office told us when we went in to fight the assessment.

[JordanLotoski]

^^^ to a point, they dont asses on upgrades or landscapiing though, iam sure they have some mathematical way they do it. But iam sure we will never know the equation.

either way, city assesments always come in like 45% lower then fair market value.

[69cougar]

Originally posted by MIWYFSHOT
^^ In regards to your question. The city appraises your home for taxes purposes based on a few things

Lot size
home size
lot location (backing ridge, park...ect..)


What if there is a caveat on your lot that a % of it is nonuseable do they take that intoi account or do you have to appeal it??

[JordanLotoski]

Good question, iam sure they dont pull RPR's (real property report), nor title on every home . I have never had a caveat on any of my property nor any encroachments. Maybe look into that maybe save a few bucks a month.

[stevieo]

Originally posted by ronaldo
our property tax went down and the assesment went up:D

same here, my dad showed me i was like.. what the..oh well hes like whatever saved 80 bucks.,

[max_boost]

Well at least the market value assessment was accurate. City says it's worth $410,500 and I paid $426,000 six months ago. Now I don't mind having my taxes go up as long as its market value appreciates say $75k per year haha :D

[sputnik]

Originally posted by bigboom
a condo is typically a depreciating asset...

:rofl: :rofl:

You must be from Regina or Winnipeg

[B20EF]

Originally posted by bigboom



a condo is typically a depreciating asset...

Interesting, the selling prices are still skyrocketing for my building though, as with all of downtown

[JordanLotoski]

Originally posted by bigboom



a condo is typically a depreciating asset...


and what a car is an appreciating asset:rofl:

[Xtrema]

Assessment was up $13K but rate is down to 0.073. I actually saved $80 in taxes this year, so :clap: .

[Billet]

Originally posted by MIWYFSHOT
^^^ to a point, they dont asses on upgrades or landscapiing though, iam sure they have some mathematical way they do it. But iam sure we will never know the equation.

either way, city assesments always come in like 45% lower then fair market value.


right :thumbsdow

im going to take my assesed value, mark it up 45% ... and see if it sells

:nut:

[toyboy88]

Originally posted by ronaldo
our property tax went down and the assesment went up:D

:werd:

[89coupe]

Originally posted by Billet



right :thumbsdow

im going to take my assesed value, mark it up 45% ... and see if it sells

:nut:

You wouldn't be too smart if you only marked it up 45%

My place was assessed 60% below market value.

[TurboMedic]

My assessment is up, and my tax bill is down! yay!

[rony_espana]

My house went up and my taxes went down almost 200 :D

[Weapon_R]

Originally posted by bigboom



a condo is typically a depreciating asset...

O RLY?

Condos have made a lot of people very rich in Calgary this year ;)

[89coupe]

Originally posted by bigboom



a condo is typically a depreciating asset...

LOL...that is a crock of shit!

[dino_martini]

Originally posted by t-im


I don't agree with that ! most realtors I talked to say city assesment is garbage.

On the news yesterday, a alderperson was saying how city assesment is already "not accurate," since they were finalized last july and the market has significantly changed since then.

Yea, we got ours yesterday. The value stated was $276,000. But, we sold the house next to us for $330,000. Thats more than $50,000 differance in a little over 6 months...damn thats a good investment.

[frostyda9]

The assessment on my condo is up $52,500 for '06 :rofl:
I wish it were real appreciation, but it's actually due to the unfinished stage it was at when the '05 statement was prepared :(

[max_boost]

So someone care to explain something to me.

Assessment goes up, taxes go up so I pay more.
But you guys, assessment goes up, taxes go down. WTF?! haha

How does that work?

[JordanLotoski]

inner city homes pay more taxes...aint life grand!!

[Xtrema]

Originally posted by max_boost
So someone care to explain something to me.

Assessment goes up, taxes go up so I pay more.
But you guys, assessment goes up, taxes go down. WTF?! haha

How does that work?

Rate dropped from 0.08 to 0.073 for us living in the burbs (Hamptons) = less tax.