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Thread: 2020 Assessments Out

  1. #61
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    Quote Originally Posted by Shlade View Post
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    Sorry, I meant to say October 2021. But I get what you're saying. That's definitely something I will try to time correctly when tossing it up on the market and hopefully buying something else.
    If you are buying something else then it's kinda irrelevant because you can usually port your mortgage anyways.

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    Quote Originally Posted by pheoxs View Post
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    If you are buying something else then it's kinda irrelevant because you can usually port your mortgage anyways.
    Depends... some lenders still charge a partial penalty... also if new property is out of their lending are you are also hooped, tons of variables

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    7% drop for our 2020 assessment.

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    ~5.5% increase over 2019 assessment

  5. #65
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    10% drop on my primary which is now 13% below what I bought for in 2016
    12% drop on my rental property which is still above what I could sell for but below my purchase price in 2013...stupid condos

  6. #66
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    Good news bump, city had my property classified wrong, got another $75k reduction on home value, still 90k over sale price but I’ll take it
    sig deleted by moderator, because they are useless

  7. #67
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    Quote Originally Posted by finboy View Post
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    Good news bump, city had my property classified wrong, got another $75k reduction on home value, still 90k over sale price but I’ll take it
    Doesn't matter. After provincial budget, average home owner now owes $200 more per year.

    So if you house is around $460K, you will have to pay extra $15-$20 per month.

  8. #68
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    Quote Originally Posted by Xtrema View Post
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    Doesn't matter. After provincial budget, average home owner now owes $200 more per year.

    So if you house is around $460K, you will have to pay extra $15-$20 per month.
    Oh this was after the increase, assessed value was $240k over sale price
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  9. #69
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    Alright guys. I got my 2020 property assessment the other day (not in Calgary) after the town finalized their tax rate for the year. The tax roll has been available since the middle of January so I knew what the value was. What I didn't know is how they get their number. I figured it was too high for the current market, current events and Alberta economy being atrocious. I decided to email the town asking them how and when they get their numbers (I assumed assessed value was from late 2019) and why we should pay taxes based on those numbers when there has been a year over year value drop of 13% here according to Central Alberta Realtors Association. (To be clear, I'm not looking to get out of paying some prop tax. I just think the assessed value is out to lunch given what's happening here.)

    One of the Municipal Clerks emailed me back. I got this response:

    Thank you for your email in regards to your concerns for the 2020 Tax Assessment. The Town of Blackfalds received the 2020 Assessed values from our property assessor in early January 2020, with that being said all property assessments in Alberta are based on a July 1, 2019 valuation date, not current market conditions. The assessment on your home and all homes in Blackfalds are therefore based on an estimate of market value as of July 1st 2019. The assessment is based on a land and building value as of that date. Sales from July 2018 to July 2019 were used to prepare this assessment.

    Once the assessment is prepared the Town of Blackfalds Council, sets a Tax Rate that is applied to the assessments to arrive at property taxes. The tax rate is based on the budgetary requirements for the Town, as well as the Education requirements for the Province of Alberta.

    The 2020 taxes are due June 30th as per normal, however due to the Covid 19 Pandemic, the property tax Penalty Fees of 1.5% monthly have been waived for the remainder of 2020, in hopes to give our Tax payers time to pay if necessary without any further financial hardships added.

    If you would like to discuss the assessed value further, our Property Assessors name is (redacted) and his phone number is (redacted). He should be able to discuss your property, as well answer any questions or concerns you may have in regards to the assessment.


    With all of this in mind, I am anticipating that the assessment next year should be lower as July seems to be the date that the assessment is based on. I was planning on arguing that the value is assessed too high but maybe I should hold off and see what next year brings. I find it really odd that they go back all the way to July of 2018 to arrive at values for this year. That was almost two years ago. A lot can change in two years, hell a lot can change in two months.

    I plan on calling next week to find out some more info if I can. But IMO, the assessed value is at least 10% too high.
    Looking around
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  10. #70
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    I want to think I've heard that same idea for Calgary too, rates are based on many months prior. I don't know if it was July of the previous year or a bit later but I think that's all pretty common.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    It's July for Calgary.

    @16hypen3sp don't get too hung up on fluctuations in the real estate market, because if your local real estate market average price goes up 10%, down 20% or whatever, that has NO BEARING on the amount of tax you pay. Now if your house specifically has an error in assessed value compared to the average in your local market, then yes, it is sometimes worth challenging that assessment.

    Two simplified equations that matter for property taxes, and one equation that you should keep in mind.

    A) Tax "Mill rate" = Municipal budget divided by average value of assessed properties. (Note: Even if municipal budget stays constant, mill rate changes every year.
    B) Your Property tax owing = Mill Rate x Average value of assessed properties x your variance from average property value.

    Coles: If your house value is varying about the same as the local market = settle down.
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    It's always July 1 of the previous year for Alberta as legislated by the provincial government.

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    Man, that 69 dollar credit is really offsetting the 120 dollar a month increase to my tipp payment.

    CoC really keeping things reasonable in these tough times as per usual.
    Originally posted by Thales of Miletus

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    guessing who I might be, psychologizing me with your non existent degree.

  14. #74
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    If you think your taxes are high this year, watch out! Every form of taxes is going to go up huge over the next decade.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    Assessment down 4%, taxes up ~200

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    Quote Originally Posted by ExtraSlow View Post
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    If you think your taxes are high this year, watch out! Every form of taxes is going to go up huge over the next decade.
    We are all going to be on covid pogey anyway
    Originally posted by Thales of Miletus

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    guessing who I might be, psychologizing me with your non existent degree.

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    Quote Originally Posted by killramos View Post
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    We are all going to be on covid pogey anyway
    Its the only way to win.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  18. #78
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    June in strathmore. Taxes are up to over 3600 a year now and the "value" of my house, from when I first built it almost 4 years ago has gone down 50k.

  19. #79
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    Is anyone ever happy with their property taxes? Nobody ever wants to pay more but Calgary property taxes are some of the lowest in the country especially for a larger urban centre. What I don't know is how we compare on other random COC user fees like garbage fees, rec facilities and such.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    Quote Originally Posted by Masked Bandit View Post
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    Is anyone ever happy with their property taxes? Nobody ever wants to pay more but Calgary property taxes are some of the lowest in the country especially for a larger urban centre. What I don't know is how we compare on other random COC user fees like garbage fees, rec facilities and such.
    Not every community pays garbage fees separately. It's not a common a approach. In most cases the user fee approach does not lower taxes any further than without them. I think the big problem here is how have we not adjusted our spending down given the tougher times in our revenue? Council seems intent on continuing like it's still the good times and just raising taxes to suit it.

    Our garbage fees here are quite high. Most communities are now on private garbage collection which I believe has actually pushed down prices. Not too mention we operate our own landfills. While that could be viewed as a negative it does secure us landfill space so we don't end up like the City of Toronto paying to ship our garbage several hundred km away to a landfill in the US.

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