2018 City Property Tax Assessments are out

[ickyflex]

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What neighbourhood? We're down $7500 in assessed value vs what we paid. Took possessions in July in legacy se

West Grove!

House was ~730k and assessment is at ~900k. Have a very hard time believing their assessment

[ExtraSlow]

Down anotther 1.3% this year. Down $83k from 2015, but still up from original purchase price in 2009.

[killramos]

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Down anotther 1.3% this year. Down $83k from 2015, but still up from original purchase price in 2009.

The E-W side of centre street arbitrage is closing!

[ExtraSlow]

Factor in your nicer rides and it's already closed!

[cet]

Has anyone done the appeal for their property tax? I finished my garage this year and my assessment went up about $35,000. This puts me about $25,000 higher than anyone else around me with similar lot and garage size.

[rage2]

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Has anyone done the appeal for their property tax? I finished my garage this year and my assessment went up about $35,000. This puts me about $25,000 higher than anyone else around me with similar lot and garage size.

My co-worker has. He's assessed 25% higher than neighboring properties and same price as another home that's 600sq/ft larger because of a small reno that required a permit. The reno costs itself was 1/3 of the higher assessment, best ROI ever if he could actually sell at assessed price. You will not win. Massive waste of time.

[ExtraSlow]

Even if you win this year, they'll make you appeal again next year, and the year after that. Not worth it. Better to sell and move to a house with a low assessment.

[klumsy_tumbler]

I didn't realize the massive difference that our two permits would have made on our assessed value. 15% increase later.... FACK. Sounds like it's not even worth it to try and argue it :/

[Xtrema]

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I didn't realize the massive difference that our two permits would have made on our assessed value. 15% increase later.... FACK. Sounds like it's not even worth it to try and argue it :/

Permit isn't about safety. It's about tax revenue.

[Strider]

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Has anyone done the appeal for their property tax? I finished my garage this year and my assessment went up about $35,000. This puts me about $25,000 higher than anyone else around me with similar lot and garage size.

I did it successfully in 2015, reduced the assessed value by $100k. Took probably 5-6 hours (and the help of a realtor friend) to put together comps, understand the city methodology so I could debate meaningfully, do my own calculations and write my complaint/rebuttal. Then a 1/2 day off work for the hearing.

If you figure your assessed value is only $25k high then it likely isn't worth the effort (especially if you factor in a probability of success).

[Tik-Tok]

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Permit isn't about safety. It's about tax revenue.

That's why I didn't reno our basement or kitchen... I just "added some plugs and wiring".

[ercchry]

Apparently the market fully recovered in the summer of 2017!

Last year.. $514.5k... now $543.5k, peak before that was $540.5k in 2015...

[ExtraSlow]

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Apparently the market fully recovered in the summer of 2017!

Last year.. $514.5k... now $543.5k, peak before that was $540.5k in 2015...

My neighborhood much be particularly undesirable. It's been a steady downward trend.

[ercchry]

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My neighborhood much be particularly undesirable. It's been a steady downward trend.

All that hail makes insurance rates too high!

[ExtraSlow]

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All that hail makes insurance rates too high!

Too many unemployed dudes bringing down property values too.

[bjstare]

My assessment is up about $40k from last year. Not impressed, but also can't justify the time and effort to appeal.

[bigbadboss101]

We are in Kincora, down 3rd year in a row. Tax is high. However market value <> assessment value. Were thinking about moving but it seems some of the areas we are looking at are more 'desirable' but value for the $ it's best for us to stay put.

[ExtraSlow]

Moving is incredibly expensive no matter what the house. Costs. I was figuring fifty grand down the drain for my family.

[Tik-Tok]

Anyone else get a letter in the mail informing you how awesome their online property information is, and encouraging you to update your property information online with anything like renovations and upgrades?

I'm definitely jumping on this opportunity to raise my property taxes!

[rage2]

Someone’s gotta pay for those Olympics.