| colossus |
| How does one appeal a property tax assessment. They just raised the rates like crazy, and the new city assessment is $100,000 than we paid for the property. Is this a cash grab by City Hall? |
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| EK9Hatch |
No this means your property is worth a lot more than what you paid for it :p
Jamie |
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| GOT BOOST |
quote:
Originally posted by EK9Hatch
No this means your property is worth a lot more than what you paid for it :p
Jamie
Agreed,
Now with the new tax rate proposal, watch out for a new absurd "pay increase" to Mandel and friends
You can re appeal on the back of your assessment. :D |
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| ehos |
I think you can only appeal the 'assessment value of your house', not the mill rate.
So I'm pretty sure you're still SOL. The mill rate shot up, so even if they took 50K off your assessed value, you're still gonna pay lots.
Price of the boom. What really sucks is people that bought at the peak of the market in the summer of 06, their house prices went down 100-150K, but they get to pay the higher tax. THOSE people should appeal as they're gonna get jacked.
500K mortgage, 500K assessed value property taxes on a house not worth more than 350K. |
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| colossus |
Wow, it feels like a cash grab by city hall. We bought the place for $330,000 in 2007 (keep in mind this is a small house that was built for $150,000 just 5 years ago). Now the city says they value it at $430,000. And so the property tax has just jumped approx from $3000 last year to $3500 this year. I heard St. AB was expensive but this is ridiculous. About a dozen other houses, all bigger have been sitting for sale for a year at $410,00 with no buyers. So the price seems inflated. Even scarier if you go to the city hall's website their online calculator says house tax on a $400,000 assessed home should be about $5000. Something doesn't make sense, the house is only 1000 sq ft, not much bigger than my apartment.:confused:
Has anyone appealed their property tax assessment and won? |
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| SilverE90 |
The city's property tax assessment is based on the estimated value of your house LAST year. Not this year. This year things are lower. Presumably everyones assessment should be a bit high. So you will still be paying only your 'share' of the total bill.
Property taxes to me are kind of like gas for your car. It is a cost that goes with owning a home. For most people the increase should only be 1-200 bucks which isn't much over a year. If you don't like it, don't own a house. See how renting the next 40 years works out for you though. :thumbup: |
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| SilverE90 |
And have some of you actually already received your new assessment? Like colossus?
The City of Edmonton website still has last years numbers on it. :dunno: |
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| superpirate25 |
| I'm sorry you can't afford the extra 15 dollars a month to support a massively booming and sprawling city. |
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| tokes |
| Taxes in St. Albert are getting a bit ridiculous. When my parents built our house in 1995 we were paying about 2000/year in property taxes. This year they're supposed to pay over 10 grand! I'm sorry, but there is no way our house has gone up in value by 5 times in the past 13 years. I think they're going to try and appeal it, because that is just absurd. |
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| colossus |
| How does one fight or appeal the city's assessment? It seems they assessed at the peak of the real estate craziness, but since then most prices aka value has dropped off. |
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| TrevorK |
quote:
Originally posted by colossus
How does one fight or appeal the city's assessment? It seems they assessed at the peak of the real estate craziness, but since then most prices aka value has dropped off.
All the details you need are on the back of you assessment.
Just remember, when they reassess you are acknowledging that their reassessment might be HIGHER than what they put down.
I would go on the city website and see if you assessment is in line with your neighbours. |
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| shorti |
Suckers living in the city.
My property tax percentage went down but because the price of the house went up the bill is a bit more this year than last. |
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| colossus |
Hmmm... that raises some concern. The assessed the house at 400,000 and said the tax would be about 3500. However if you go to their website and their on-line calculator, if you enter 400,000 then it calculates the tax should be closer to 5000. Is this a mistake or will they come after the owner later if they've made a mistake? In Edmonton a house this size would be taxed at about $2000. This all seems kinda overpriced, the house is tiny, 1000sq ft approx.
How come in Edmonton they undervalue a house by say 100,000, but in the burbs Sherwood Park, Leduc, St. Albert they seem to overvalue a house? |
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| TrevorK |
quote:
Originally posted by colossus
How come in Edmonton they undervalue a house by say 100,000, but in the burbs Sherwood Park, Leduc, St. Albert they seem to overvalue a house?
It all works out in the end based on the mill rate - they can undervalue the house and increase the mill rate, or lower the mill rate and increase home value.
I think where this helps the city is that as long as they are undervaluing the property when the market softens there isn't a rush of people appealing their property tax to lower it, because it's still valued less than what the house is worth.
To me, the lower property value seems to put some stability into the revenue stream. |
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