2023 Assessments. Howd you score?

[cycosis]

Assessments are live on City of Calgary website. Im up nearly 25% over last years assessment. Not looking forward to my property tax bill.

[max_boost]

Looks like the same - condo life tho

[Thaco]

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Looks like the same - condo life tho

my rental condo in the hood went down 1k, pretty much expected.

[ercchry]

Using the assessment as the single factor in determining your tax bill is not useful data, the only thing that can confirm that it’s going up is if you get a large enough sample to determine if your assessment is an outlier vs the rest of the data. That being said, the way this city budgets, going up is almost always a certainty

Edit: “only” up 10% over here

[lilmira]

I'm richer than I think but I'll be poorer than I know soon.

[Tik-Tok]

One across the street that sold for under $595g last March during peak "hawt market" is now assessed at $700g. Zero changes have been made, and I'm not even sure someone actually lives there.

[Twin_Cam_Turbo]

2021 $432500, 2022 $469000, 2023 $518500 for me. According to the city’s calculator I’ll only owe $42 more this year, not sure I believe that…

[Tik-Tok]

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2021 $432500, 2022 $469000, 2023 $518500 for me. According to the city’s calculator I’ll only owe $42 more this year, not sure I believe that…

They won't announce the rate for months, so it's useless.

[Twin_Cam_Turbo]

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They won't announce the rate for months, so it's useless.

Not sure why they even bother posting this then: https://www.calgary.ca/property-owne...alculator.html

[ExtraSlow]

The city engages in deliberate and systematic obfuscation. This is no accident.

[Doozer]

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According to the city’s calculator I’ll only owe $42 more this year, not sure I believe that…

That sounds right.

According to their presentation, the delta in taxes is based on your deviation from the normal. If everyone goes up 10%, nobody's taxes change. But if everyone goes up 10% except one guy goes up 11%, that 11% pays slightly more. Something like that.

So for those of us in the single-family dwelling, the magic number seems to be 12%. If your value went up 12%, you should pay about the same as last year. If it only went up 9%, you'll pay less and if you went up 20% you'll pay more. That may be simplified, but Darren Krause has a decent thread on it from the city's presentation today.
https://twitter.com/LiveWire_DK/stat...il1JpWztFGppgA

[msommers]

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I'm richer than I think but I'll be poorer than I know soon.

Ancient Scotia Proverb

[94boosted]

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That sounds right.

According to their presentation, the delta in taxes is based on your deviation from the normal. If everyone goes up 10%, nobody's taxes change. But if everyone goes up 10% except one guy goes up 11%, that 11% pays slightly more. Something like that.

So for those of us in the single-family dwelling, the magic number seems to be 12%. If your value went up 12%, you should pay about the same as last year. If it only went up 9%, you'll pay less and if you went up 20% you'll pay more. That may be simplified, but Darren Krause has a decent thread on it from the city's presentation today.
https://twitter.com/LiveWire_DK/stat...il1JpWztFGppgA

Isn't your actual property tax amount based on the assessed value multiplied by the tax rate? Therefore, unless they're lowering the municipal or provincial tax rate, wouldn't everyone's property tax amount go up?

[Tik-Tok]

Yes, and I'm pretty sure we go through this every year in the annual thread about property taxes

[jabjab]

My assessment went up slightly but paying less property taxes this year.

[navdeep]

2021 - $915,500
2022 - $1,130,000

i don't even want to see my tax bill

[2Legit2Quit]

May Gondek smile down upon you all

[ercchry]

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Isn't your actual property tax amount based on the assessed value multiplied by the tax rate? Therefore, unless they're lowering the municipal or provincial tax rate, wouldn't everyone's property tax amount go up?

Hypothetically speaking, the budget sets tax rate. So if the budget stays the same and all values increase then the tax rate should go down… if this holds true then the only people seeing a change in their tax amount would be the properties that are outliers from the average change in value

But in reality government spending is out of control the the budget is ever increasing… so everyone pays more YoY

[max_boost]

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2021 - $915,500
2022 - $1,130,000

i don't even want to see my tax bill

No sweat baller

[94boosted]

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Hypothetically speaking, the budget sets tax rate. So if the budget stays the same and all values increase then the tax rate should go down… if this holds true then the only people seeing a change in their tax amount would be the properties that are outliers from the average change in value

But in reality government spending is out of control the the budget is ever increasing… so everyone pays more YoY

Makes sense, thanks ercchry