PDA

View Full Version : Property Assessment 2014



npham
01-07-2014, 05:21 PM
Did you guys receive yours yet? Tax rate went down, but my place appreciated enough(~8%) to make my taxes go up marginally. Anyone going to fight theirs?

Twin_Cam_Turbo
01-07-2014, 05:28 PM
Well I just bought my place for $257000 in October and the city assessed it at $282500. Good thing or bad thing?

403ep3
01-07-2014, 05:31 PM
Mine went up by about 6.4%

First time home owner so don't know what it means lol

Mibz
01-07-2014, 05:32 PM
I'm under the impression that you want your assessment to be as low as possible while you live somewhere, to keep taxes low, and then skyrocket when you want to sell.

I would have a very hard time walking somebody through my house and being like "This is why my house is a piece of shit", though.

Tik-Tok
01-07-2014, 05:33 PM
Originally posted by Twin_Cam_Turbo
Well I just bought my place for $257000 in October and the city assessed it at $282500. Good thing or bad thing?

Only good if you're planning a flip. Otherwise it means more taxes.

Mine assessment went up 5.5%. Unfortunately, when we start some big reno's this summer, we're going to need to pull permits. I suspect someone at the city will actually want to look at my house in person after that, and it'll go up significantly. :(

Twin_Cam_Turbo
01-07-2014, 05:35 PM
Originally posted by Tik-Tok


Only good if you're planning a flip. Otherwise it means more taxes.

Mine assessment went up 5.5%. Unfortunately, when we start some big reno's this summer, we're going to need to pull permits. I suspect the city will actually want to look at my house after that, and it'll go up significantly. :(

Well it's my first home and I was intending to live there for a while but I am thinking I may sell after a year or two and split my profits/investment between two places again.

ercchry
01-07-2014, 05:42 PM
nah, you always want it as low as possible, no one ever actually places a value based off of that number anyway... and a lower number makes it move attractive for a new owner the same as you want it low.... till the sale goes through at double the assessed value and you get hit with a big bill anyway :rofl:

max_boost
01-07-2014, 05:52 PM
Went up 7.5%.

About 5% under market value.

All good. I am never gonna move anyway lol 8.5 years here now.

:eek:

Xtrema
01-07-2014, 05:53 PM
Average assessment is 6% increase. If your assessment increase is over 6%, you will pay more taxes this year.

We already know the 5-6% increase in city taxes has been squashed for 2014. So that won't be a factor this year. Only assessment and provincial changes comes into play.

Our property tax system is too complex. why don't they just fix a rate (like 0.8%) can call it a day.

lilmira
01-07-2014, 05:54 PM
My assessment went up ~8%, predicted property tax went up ~100bux a yr.

guessboi
01-07-2014, 05:56 PM
Originally posted by ercchry
nah, you always want it as low as possible, no one ever actually places a value based off of that number anyway... and a lower number makes it move attractive for a new owner the same as you want it low.... till the sale goes through at double the assessed value and you get hit with a big bill anyway :rofl:

Bang on.
My place is worth way more than my neighbours but their assessments are higher than mine. lol.

Tik-Tok
01-07-2014, 05:57 PM
Originally posted by lilmira
My assessment went up ~8%, predicted property tax went up ~100bux a yr.

Lol, we go through this every year. Your taxes have not gone up yet. What you are seeing is an assessment, not a tax bill (even says so a few times on the paper)

You're tax bill will be more than $100 increase, when they come out with an actual tax rate in May.

lilmira
01-07-2014, 06:00 PM
Originally posted by Tik-Tok


Lol, we go through this every year. Your taxes have not gone up yet. What you are seeing is an assessment, not a tax bill (even says so a few times on the paper)

You're tax bill will be more than $100 increase, when they come out with an actual tax rate in May.

I know that, that's why I said predicted. Sorry if you are offended. :nut:

DEATH2000
01-07-2014, 06:18 PM
Mine was $386k for 2013 and is now $405k for 2014 which is what we actually paid for the house...

rage2
01-07-2014, 06:22 PM
It's interesting that when I bought my house, it was more expensive than my next door neighbor's house, yet in the last 10 years, the neighbor's assessment has slowly crept up and is now $25k higher than mine. Neither of us have reno'd the house since new. Actually that's a lie, I got new siding and roofing last winter through insurance. I guess I'll have to keep my fence looking like shit till I sell the place to keep the taxes low. :rofl:

Both were show homes, I have more square footage (120 sqft more), and both have undeveloped basements. Win.

Tik-Tok
01-07-2014, 06:32 PM
Originally posted by Xtrema

Our property tax system is too complex. why don't they just fix a rate (like 0.8%) can call it a day.

Because I don't want to "subsidize" all you 1%'ers :rofl:

ercchry
01-07-2014, 07:41 PM
Originally posted by Xtrema
Average assessment is 6% increase. If your assessment increase is over 6%, you will pay more taxes this year.

We already know the 5-6% increase in city taxes has been squashed for 2014. So that won't be a factor this year. Only assessment and provincial changes comes into play.

Our property tax system is too complex. why don't they just fix a rate (like 0.8%) can call it a day.

One of the few times im happy with being below average... 3.7% bump!

I am over what i paid for it now though... still below market, but also still way more than my damn neighbors!

EDIT: spoke too soon, rental is up 7.1% :( officially over $100k more than i bought it for :barf:

tch7
01-07-2014, 07:44 PM
Assessed at $201k. Market value is about $400k. Score.

Cos
01-07-2014, 07:47 PM
.

DEATH2000
01-07-2014, 07:51 PM
Originally posted by rage2
Both were show homes, I have more square footage (120 sqft more), and both have undeveloped basements. Win.
Its now trendy for ballers to have undeveloped basements.

Sugarphreak
01-07-2014, 07:51 PM
...

austic
01-07-2014, 08:24 PM
up 15% from last year... yay for more tax

schurchill39
01-07-2014, 08:26 PM
Originally posted by Sugarphreak

About a 50% increase for me this year...

60% for me this year vs last. Mind you it was a new build and I took possession at the beginning of April so I've only been here 8 months.

Sugarphreak
01-07-2014, 08:30 PM
...

benyl
01-07-2014, 10:15 PM
Originally posted by Sugarphreak
My old house got assessed for 50K less than what we sold it for... ouch :eek:

I am rather pleased with how the city has assessing my house this year... far lower than I expected. My neighbors house behind and beside me are both 700K more than mine :rofl:

About a 50% increase for me this year...

You probably got a partial assessment. If you are on tipp, pay the rate you think you should or you'll get a nasty surprise in July like I did. Haha, our tipp went up $500/month to make up the difference for August-December.

Sugarphreak
01-07-2014, 10:26 PM
...

mrsingh
01-08-2014, 12:28 AM
My assessment has gone up about 7% this year, I am also just finishing the development of the basement (with permits) which has not been considered yet.

To be honest the assessment appears high; I could probably sell for what it was assessed at last year, but I doubt I could sell it what they are assessing it now even after the basement is completed. :cry:

adam c
01-08-2014, 12:51 AM
An increase of 15k over last years assessment and the only differenceis my place is now on google maps

JudasJimmy
01-08-2014, 01:14 AM
Mine went down 8%. $700 less tax this yr :thumbsup:

kenny
01-08-2014, 03:46 AM
Originally posted by rage2
It's interesting that when I bought my house, it was more expensive than my next door neighbor's house, yet in the last 10 years, the neighbor's assessment has slowly crept up and is now $25k higher than mine. Neither of us have reno'd the house since new. Actually that's a lie, I got new siding and roofing last winter through insurance. I guess I'll have to keep my fence looking like shit till I sell the place to keep the taxes low. :rofl:

Both were show homes, I have more square footage (120 sqft more), and both have undeveloped basements. Win.

Your neighbor has 973 sq.ft of developed basement for total of 3110 sq.ft according to the report. Interesting that they list "traffic collector" as an influence on your assessment.

My revenue neutral tax went down $20 but with the Nenshi tax increases kicking in it should go up a few hundred bucks.

nickyh
01-08-2014, 08:38 AM
Up 3% myself.

I am not a fan of TIPP either, I put money into a separate account each month so I still have a monthly payment except I can control the amount and any changes. I hated the way TIPP fluctuated in my last house, it made monthly budgeting a surprise some months.

NoMoreG35
01-08-2014, 08:53 AM
Originally posted by tch7
Assessed at $201k. Market value is about $400k. Score.

How :eek:

dirtsniffer
01-08-2014, 09:01 AM
Can you deduct property tax from your net income when you are filing for income tax? seems like bullshit that you have to pay tax with after tax dollars.

Sorry, not a home owner. can't really contribute.

The_Rural_Juror
01-08-2014, 09:15 AM
Mine increased by 0.073%. No typo.
Wonder what justified the small increase. lol.

a social dsease
01-08-2014, 09:46 AM
0.69% increase here. Lower taxes! :D

Xtrema
01-08-2014, 09:59 AM
Originally posted by NoMoreG35


How :eek:

illegal basement suite?

meth operation?

:rofl:

schocker
01-08-2014, 10:04 AM
Mine actually went up this year like 7%. It had gone down for the last two and is now above when I bought by the slightest amount :rofl:

Tik-Tok
01-08-2014, 10:16 AM
Originally posted by The_Rural_Juror
Mine increased by 0.073%. No typo.
Wonder what justified the small increase. lol.

The real question is, what justified it not going up as much as everyone else's.

Wish I knew what day someone actually drives by and looks at the front of your house (if they even do). I'd throw a 80's Camaro up on cinder blocks, and toss an old washing machine on the front lawn for the day.

ercchry
01-08-2014, 10:24 AM
Originally posted by NoMoreG35


How :eek:

probably one of my neighbors :whipped:

they dont seem to re-assess the old neighborhoods till the houses are sold, so yeah thanks to all those homes everyone else gets to pay more tax... but you'd think they would do the block once one home sells? :nut:

Tik-Tok
01-08-2014, 10:34 AM
Originally posted by ercchry

they dont seem to re-assess the old neighborhoods till the houses are sold, so yeah thanks to all those homes everyone else gets to pay more tax... but you'd think they would do the block once one home sells? :nut:

Just looked at my cul-de-sac, and I do believe you're right. All 4 houses that sold in the past year have significantly higher assessed value than mine, and we used to be within 5 thousand of each other. I hope this stays true, even if I get permits for an addition.

Edit: Also explains why the guy down the street with a 1/2 acre lot is only assessed at $401,000 :nut:

ercchry
01-08-2014, 10:38 AM
Originally posted by Tik-Tok


Just looked at my cul-de-sac, and I do believe you're right. All 4 houses that sold in the past year have significantly higher assessed value than mine, and we used to be within 5 thousand of each other. I hope this stays true, even if I get permits for an addition.

Edit: Also explains why the guy down the street with a 1/2 acre lot is only assessed at $401,000 :nut:

oh the permits will get ya! my uncle has done a few reno's... the trick is to walk them through before you are done the finishing work so they dont get the full picture, kind of like an unwashed car vs a freshly polished one :rofl:

Lex350
01-08-2014, 10:44 AM
House assessment went up 34k this year! Ouch!! I had always thought it was a bit low. Maybe it's just catching up now.

mikestypes
01-08-2014, 11:32 AM
Has anyone actually fought the assesment? My assesed value went up 8.2% from last year and I think that it is $30k over market value at least. My next door neighbour's house just sold for $32k under my assesed value and their place is at least 200sqft bigger with a similar finished walkout as mine.

My taxes are estimated to only go up $90/yr so I am not sure if it is worth fighting for a decrease.

Any suggestions?

slammedfc
01-08-2014, 11:58 AM
mine went up from 280k -325k and 2012-2013 was 269k-280k

more taxes wooooo :(

RX_EVOLV
01-08-2014, 12:31 PM
Mount Pleasant here. Went up 7.1% to $465k but still below market value so I'm happy.

Xtrema
01-08-2014, 12:38 PM
Originally posted by ercchry


probably one of my neighbors :whipped:

they dont seem to re-assess the old neighborhoods till the houses are sold, so yeah thanks to all those homes everyone else gets to pay more tax... but you'd think they would do the block once one home sells? :nut:

They kinda do. My assessment when from 330 to 580 after a decade. Although, I heard that if you contested, they will reduce it close to your purchase price.


Originally posted by mikestypes
Has anyone actually fought the assesment? My assesed value went up 8.2% from last year and I think that it is $30k over market value at least. My next door neighbour's house just sold for $32k under my assesed value and their place is at least 200sqft bigger with a similar finished walkout as mine.

My taxes are estimated to only go up $90/yr so I am not sure if it is worth fighting for a decrease.

Any suggestions?

Fight it, provide your neighbor's sold price.

ercchry
01-08-2014, 12:39 PM
Originally posted by Xtrema


They kinda do. My assessment when from 330 to 580 after a decade. Although, I heard that if you contested, they will reduce it close to your purchase price.

that would be insane... the guy behind me bought for $80k :rofl:

Xtrema
01-08-2014, 12:42 PM
Originally posted by ercchry


that would be insane... the guy behind me bought for $80k :rofl:

Well within reason. I'm sure if I bitch every year, I would have been assessed at around 450-480K.

asp integra
01-08-2014, 12:47 PM
just bought my house in cougar ridge this fall, 2103 prop value at 440 and 2014 up to 460. actual value closer to 550 though so not bad

mo_money2supe
01-08-2014, 12:55 PM
Mine went up about 7.5%, but that's up $47k from last year! :eek: I'm now sitting at about 10% higher assessed value than what we built it for 4 years ago. I guess that's a good thing? No idea what the going rate is for the neighbourhood though - living in Quarry Park. At least with the lower tax rates, the overall taxes are only up some $80-90 from last year.

01RedDX
01-08-2014, 01:04 PM
.

NoMoreG35
01-08-2014, 01:27 PM
Originally posted by ercchry


probably one of my neighbors :whipped:

they dont seem to re-assess the old neighborhoods till the houses are sold, so yeah thanks to all those homes everyone else gets to pay more tax... but you'd think they would do the block once one home sells? :nut:

Now that would be just too much work for the city as it's busy building all the bike lanes and such ;)

mr2mike
01-08-2014, 01:31 PM
Originally posted by mikestypes

My taxes are estimated to only go up $90/yr so I am not sure if it is worth fighting for a decrease.

Any suggestions?

Not worth it. I believe you have to pay to submit an appeal. I recall it costing $60 to do this. Unless you've got something drastically wrong, I wouldn't.

Don't quote me on cost, this is based on last years assessment and what I can vaguely remember.

ercchry
01-08-2014, 01:39 PM
its $30... at least thats what the bottom of my assessment says

avishal26
01-08-2014, 03:51 PM
Originally posted by mikestypes
Has anyone actually fought the assesment? My assesed value went up 8.2% from last year and I think that it is $30k over market value at least. My next door neighbour's house just sold for $32k under my assesed value and their place is at least 200sqft bigger with a similar finished walkout as mine.

My taxes are estimated to only go up $90/yr so I am not sure if it is worth fighting for a decrease.

Any suggestions?

My assessment went up 5.3% and monthly payment went up $10 a month (that was even prior to the 2014 assessment)

A co-worker or mine fought his assessment last year, but when he got his new assessment this year, it basically erased his previous assessment contest. In other words, If you fight it because you think its too high, you will end up having to do that every year. Seems to be that each year's assessment does not take into account last years contention... if there was one.

tch7
01-08-2014, 04:04 PM
Originally posted by NoMoreG35


How :eek:
It's a new build, took possession last January.

The interactive map on the CoC website is only showing the land, not the structure. The townhomes on the opposite side of the courtyard that were finished about 3-4 months after mine do show the structure and are assessed at about $400k.


My parent's place is assessed at about 25%-30% below market, but they've been living there for 30 years (with major renos a few years ago). All their neighbors are higher.

mrsingh
01-08-2014, 04:13 PM
Originally posted by mo_money2supe
Mine went up about 7.5%, but that's up $47k from last year! :eek: I'm now sitting at about 10% higher assessed value than what we built it for 4 years ago. I guess that's a good thing? No idea what the going rate is for the neighbourhood though - living in Quarry Park. At least with the lower tax rates, the overall taxes are only up some $80-90 from last year.

My assessment is currently $90K more than what I paid for the house in 2010. Doubt it matters much, I couldn't sell the house for what they're assessing it for anyways. More tax money for them...

cjab
01-09-2014, 06:15 PM
My assessment went down 1.5%. Weird thing is my ground floor condo in Mission was completely ruined in the flood (water up to ceiling, completely gutted) - and is still uninhabitable.

Other similar units in the building not directly damaged by the flood decreased by 13-16%. We all had the same assessed value last year.

Waiting on the reasoning from the assessor on why my condo that is barely 75% complete is worth more than the other units int he building.

A790
01-09-2014, 06:28 PM
Assessment went up 20k... woo.

cam_wmh
01-09-2014, 07:04 PM
Originally posted by cjab
My assessment went down 1.5%. Weird thing is my ground floor condo in Mission was completely ruined in the flood (water up to ceiling, completely gutted) - and is still uninhabitable.

Other similar units in the building not directly damaged by the flood decreased by 13-16%. We all had the same assessed value last year.

Waiting on the reasoning from the assessor on why my condo that is barely 75% complete is worth more than the other units int he building.

I'm in Mission too. We were untouched from the flood, even the parkade.

My assessment is $50k below market. :)

avishal26
01-09-2014, 09:41 PM
Originally posted by cam_wmh


I'm in Mission too. We were untouched from the flood, even the parkade.

My assessment is $50k below market. :)

Does it have anything to do with the fact after the last flood, the flood prone zones will be labelled as such on land titles or property reports or whatever...?

cam_wmh
01-10-2014, 04:50 AM
Originally posted by avishal26


Does it have anything to do with the fact after the last flood, the flood prone zones will be labelled as such on land titles or property reports or whatever...?

Not in my case. Per the GOA old zone site; www.envinfo.gov.ab.ca/floodhazardmobile My condo building is on a higher point in Mission. (Standard yellow)

No insurance claim. Nothing on title.


Maybe for others?:dunno:

Impreza
01-14-2014, 02:37 PM
Went up ~6% to $560, so another ~$100/yr

Disoblige
01-14-2014, 03:25 PM
Assessment went up but taxes went down. The hell haha..

Tik-Tok
01-14-2014, 03:31 PM
Originally posted by Disoblige
Assessment went up but taxes went down. The hell haha..

That number isn't your taxes.

Disoblige
01-15-2014, 12:07 AM
Oh.

vw_rabbit2.5
01-16-2014, 04:45 PM
I am pretty sure I will be contesting my assessed value.

I purchased my house in Dec 2013. It was a newly built house (first listed on the market around July/Aug 2013).

The 2014 assessed value was $90k higher than what we paid!

From what I understand, fair market value is what the house would reasonably sell for as of July 2013. Since we bought the house so recently, wouldn't that be the best indicator of what fair market value for the house is?

Has anyone ever contested their property value before? What sort of information would I have to provide? If I were to provide my purchase contract showing the purchase price, would that suffice, or should I ask a realtor to provide a Comparative Market Analysis for the neighbourhood?

Any tips would be greatly appreciated!

Thanks.

the_man
01-16-2014, 05:02 PM
VW, I have the same problem, bought the place for ~$60k lower than assessment value in Dec 2013.

I called the city and spoke to a general assessor (not my assessor), and he told me that i probably would not be able to knock off much off their valuation because the land value is supposedly worth more than the price I paid. He said I could probably dispute a cost adder they had for minor renovations, but that's it.

On a side note, the house I bought has a basement suite, and i checked with the zoning department of the city before i purchased the house and they said they had no records of one existing there. However in the city assessment they have noted a basement suite in the home, and tax it accordingly haha.