Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Propety tax assessments
Old 05-25-2008, 03:19 PM   #1
Recycles dryer sheets
Join Date: Jan 2006
Posts: 307
Propety tax assessments

Up here in Alberta where I live, taxes are based on assessed values. I assume that is the same in most places. Anyways, home prices are still strong where I live with an average home going for about 420K. I just received my assessment for last year and my home has been assessed at 88% over the prior year assessment. Obviously I'm not a happy camper as this is an extra $500 bill over the year. Granted my assessment was too low in the prior year and it seems they are catching up for two years increases. I will obviously be appealing. Has anyone had success in appealing property assessments with their cities assessment board? I have appealed twice in the past and in each case had my assessment lowered significantly each time. The first time was after my home was purchased...they assessed it at 212K and I paid 185K for it about 2 months after the assessment date so that was an easy one to appeal. The second time it wasn't as easy but they lowered it again - I think by about 15%. I may as well try a third time as it's only a $30 fee.

This is just another example as to how the official inflation rate in US and Canada is obscenely low. I live frugally on about $18,000 a year as my mortgage is paid off, so a $500 jump in my taxes alone results in a 2.8% jump in my personal rate of inflation which is more than the 1.7% official rate here in Canada. When I factor in the rising price of gas and food my personal rate of inflation is around 6% in the past year.

accountingsucks is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-25-2008, 03:24 PM   #2
Thinks s/he gets paid by the post
OAG's Avatar
Join Date: Jun 2006
Location: Central, Ohio, USA
Posts: 2,594
We did last year - no cost to appeal - it was approved but not for what I thought was a fair amount. Depending what it comes to this year and if the school board applies again for the levy (after being denied 57/43 in May), and it gets approved, I definitely will be, as it will mean OVER $1,000 INCREASE for the year.

Vietnam Veteran, CW4 USA, Retired 1979
OAG is offline   Reply With Quote
Old 05-25-2008, 03:32 PM   #3
Thinks s/he gets paid by the post
kcowan's Avatar
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 4,455
Send a message via Skype™ to kcowan
My brother in Toronto appeals every year and usually got fair treatment. Last time they gave him a token $10k reduction just to get him to go away. He lives in an 850 sq.ft teardown assessed at $410k.
For the fun of it...Keith
kcowan is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
When are post-tax savings better than pre-tax? RockMiner FIRE and Money 30 03-21-2009 12:56 PM
Tax Rebate or Tax Advance ?? Helena FIRE and Money 29 02-14-2008 09:25 PM
Tax Questions: 1. Cap Gains 2. Tax Rate TromboneAl FIRE and Money 2 12-12-2007 08:49 AM
Vanguard tax-exempt MM at 2.6% pre-tax soupcxan FIRE and Money 17 12-28-2005 09:13 AM
Investment tax cuts in the new tax bill Telly FIRE and Money 1 05-23-2003 01:42 PM


All times are GMT -6. The time now is 08:10 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.