1095 replies to this topic

[JimV]

Mine are up about $500.  A bit over 10%.  What a pity, I was so looking forward to paying out some reconciliation money.  I guess it will have to wait until next year.

[spanky123]

basically what we used to call the "mill rate" dropped 12% from 5.1 to 4.5

 

but the assesessed value went up by 28% (sadly i can't eat, or spend, equity)

 

so tax increase is 12.8%

 

(numbers are a little off because of sewage charge - but close enough)

 

Funny how that happens. City claims "average" tax increase is 3.8% but everyone seems to be up 10%+

[Tom Braybrook]

Funny how that happens. City claims "average" tax increase is 3.8% but everyone seems to be up 10%+

i guess as far as the CoV is concerned, - I am "above average!"

 

fool that i am, i will take that as a compliment  ;-)

[Ismo07]

My Assessment went up 10% and for the first time in history my taxes lowered by like 2.2%  That's got to be wrong...

[Nparker]

Funny how that happens. City claims "average" tax increase is 3.8% but everyone seems to be up 10%+

Mine was down 2%*. Perhaps this is how the CoV worked out its figure.

*keep in mind that I was gifted with 3 homeless shelters in fewer than 3 blocks over the past year

[Mike K.]

My Assessment went up 10% and for the first time in history my taxes lowered by like 2.2% That's got to be wrong...

That means the average assessments in the CoV went up significantly higher than your 10%, lowering your tax burden.

[North Shore]

Mine was down 2%*. Perhaps this is how the CoV worked out its figure.

*keep in mind that I was gifted with 3 homeless shelters in fewer than 3 blocks over the past year

 

I guess there's an advantage to living next to those shelters after all!

[Nparker]

I guess there's an advantage to living next to those shelters after all!

I'll have to get back to you on that after our next break-in, which I am sure will be any day now.

[Mike K.]

Sooke council will ratify a pay raise for the next council with the major earning $47k per year, and councillors receiving $20k.

That’s up from $31k and $16k.

[marks_28]

My CoV property tax bill was up 13%. Yikes. Good thing for the homeowners grant

[LJ]

I'm deferring my taxes, that way when the home equity tax comes in I will owe less.

[Tom Braybrook]

My Assessment went up 10% and for the first time in history my taxes lowered by like 2.2%  That's got to be wrong...

 

in CoV mill rate dropped from 5.1 to 4.5 or 12%, so if your assessment goes up less than 12% you pay less, assessment up more than 12% you pay more

 

for an approximation, take your assessment increase, add 1 and multiply by 0.88 for an estimate of tax increase/decrease percentage

 

in my case a 28% assessment increase means -  (1 + 0.28) * 0.88 = 1.126  or 12.6%

[Tom Braybrook]

in CoV mill rate dropped from 5.1 to 4.5 or 12%, so if your assessment goes up less than 12% you pay less, assessment up more than 12% you pay more

 

for an approximation, take your assessment increase, add 1 and multiply by 0.88 for an estimate of tax increase/decrease percentage

 

in my case a 28% assessment increase means -  (1 + 0.28) * 0.88 = 1.126  or 12.6%

in the CoV - if you have your folio number this helpful website is very handy - https://www.victoria...calculator.html

 

it pointed out that my CoV tax hike was actually closer to 15%, while other taxes increased just 9.5%

Attached Images

• 

[Ismo07]

That means the average assessments in the CoV went up significantly higher than your 10%, lowering your tax burden.

 

Yeah I get that...

 

in CoV mill rate dropped from 5.1 to 4.5 or 12%, so if your assessment goes up less than 12% you pay less, assessment up more than 12% you pay more

 

for an approximation, take your assessment increase, add 1 and multiply by 0.88 for an estimate of tax increase/decrease percentage

 

in my case a 28% assessment increase means -  (1 + 0.28) * 0.88 = 1.126  or 12.6%

 

Ah yes.

Edited by Ismo07, 20 May 2022 - 07:27 AM.

[Mike K.]

So why’s it got to be wrong?

[Ismo07]

So why’s it got to be wrong?

 

I was just referring to taxes lowering.  I'm not sure I have ever experienced that.  It was more of an expression rather than actual disbelief.

[LJ]

It's a good thing I'm deferring, my taxes are up 18.5%.

Edited by LJ, 20 May 2022 - 07:59 PM.

[Matt R.]

Finally checked the mail, up about 10% across the board. Lame.

[Sparky]

If the mill rate for Victoria property taxes decreased by 12 % and my assessed property value increased by 22% from last year.....didn't the city of Victoria just receive an increase of 10% +- in dollars? Imagine the impact on total revenue across the city.

 

What am I missing?

[Victoria Watcher]

No. The city calculates the values at the various mill rates, then applies the change they want overall or per category. They get the exact amount of extra tax they budget for. No more. Mo less.

Edited by Victoria Watcher, 09 June 2022 - 05:54 AM.