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2017 Property Assessment Increase


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#81 Nparker

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Posted 06 January 2017 - 02:28 PM

Unfortunately, by the time any new development proposals move through our slow as molasses approvals processes, the market may be totally different.

True to a certain extent, especially when City Hall insists on public input for a gazillion years prior to making any decisions (22 Cook Street anyone?). I would imagine the desire to live in Victoria will stay steady for the foreseeable future, especially as there are still many "Boomers"* moving into their retirement years over the next decade.

 

* and a few Gen X-ers getting there too.



#82 lanforod

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Posted 06 January 2017 - 02:30 PM

Is there any place to find out the average increase in each municipality? I'm curious if my 22% increase is normal or high/low. SFH in Royal Oak - Saanich.

#83 Nparker

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Posted 06 January 2017 - 02:36 PM

Is there any place to find out the average increase in each municipality...

Here's a handy image from the Times-Colonist that might help

2017.JPG

http://www.timescolo...egion-1.6109201


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#84 lanforod

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Posted 06 January 2017 - 02:46 PM

Thanks! I suspect mine went up a little more than average for a SFH then.
Cheerio.

Edited by lanforod, 06 January 2017 - 02:47 PM.


#85 Nparker

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Posted 06 January 2017 - 03:13 PM

Thanks! I suspect mine went up a little more than average for a SFH then...

According to the chart above, about 0.28% more than the average house in your part of Saanich.  :rolleyes:



#86 VicHockeyFan

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Posted 10 January 2017 - 08:46 AM

 
B.C. government raises homeowner grant threshold to $1.6M
About 91% of homes will under the new threshold for the basic grant

 

http://www.cbc.ca/ne...aised-1.3928817

 

Good news, now your house can be up to $1.6M and you get to save $570.

 

 

 
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<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#87 Nparker

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Posted 10 January 2017 - 09:49 AM

Good news, now your house can be up to $1.6M and you get to save $570.

But that savings will buy a whole lot of votes on May 9th.


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#88 GabriolaGirl

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Posted 10 January 2017 - 10:17 AM

 

 

 

http://www.cbc.ca/ne...aised-1.3928817

 

Good news, now your house can be up to $1.6M and you get to save $570.

 

 

 

 

will they drop it again next year when housing values drop?  Our old house is valued at 1.43M, the folks trying to sell it are at 1.19 and haven't had any acceptable offers.



#89 nerka

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Posted 10 January 2017 - 10:20 AM

Why does the homeowner grant program even exist? Is there any good economic rationale for it?


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#90 VicHockeyFan

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Posted 10 January 2017 - 10:42 AM

Why does the homeowner grant program even exist? Is there any good economic rationale for it?

 

That's a good question.  It might just be the case of "it's always been there".   I'm surprised it does not cost all that much to the province to go from $1.2M to $1.6M.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#91 Nparker

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Posted 10 January 2017 - 11:25 AM

That's a good question.  It might just be the case of "it's always been there"...

It's there as a way for the province to cover a portion of each municipality's property taxes and look like a hero to the voters. It could be done through higher transfer payments (thus reducing the amount municipalities need to raise through property taxes), but at some point the HOG was decided to be more politically expedient.

...As Vancouver Sun columnist Vaughn Palmer noted last week, the grant was introduced in 1957 by then-Social Credit premier W.A.C. Bennett, arguably the most populist leader in B.C. history, in what was then a very thinly veiled vote-buying scheme paid for with our own cash...A 1969 pamphlet distributed by the Socreds to voters, a Personal Report from the Premier, contained an entire section on the grant, which Bennett crowed was created “to relieve the pressure of rising property taxes on the homeowners of British Columbia and to encourage the buying and building of new homes …If Victoria wanted to reduce property taxes — why that tax, in particular, is anyone’s guess — why not simply give comparable amounts of money directly to municipalities so they could cut property taxes? Of course, then provincial politicians would have nothing to brag about...Even the cutoff isn’t fair — the value of your home has little connection to your ability to pay taxes...

http://theprovince.c...homeowner-grant


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#92 nerka

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Posted 10 January 2017 - 12:37 PM

The H.O.G. program cost the province 792 million last year. Eliminating that is only slightly less than would be needed to cut one percentage point off the disliked (and regressive) PST.

 

There's my free policy idea for the BC NDP.



#93 Nparker

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Posted 10 January 2017 - 01:20 PM

The H.O.G. program cost the province 792 million last year....

If the HOG disappeared municipal property taxes would go up for 90% of homeowners in the province. Any government that does that hasn't a hope in hell of getting elected.


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#94 LeoVictoria

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Posted 10 January 2017 - 01:28 PM

If the HOG disappeared municipal property taxes would go up for 90% of homeowners in the province. Any government that does that hasn't a hope in hell of getting elected.

 

Whenever one level of government has a program (that costs lots of money to administer) in order to pay the taxes of another level of government you know the whole thing is idiotic pure wastefulness.



#95 VicHockeyFan

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Posted 10 January 2017 - 01:32 PM

Whenever one level of government has a program (that costs lots of money to administer) in order to pay the taxes of another level of government you know the whole thing is idiotic pure wastefulness.

 

That about nicely sums it up really.


<p><span style="font-size:12px;"><em><span style="color:rgb(40,40,40);font-family:helvetica, arial, sans-serif;">"I don’t need a middle person in my pizza slice transaction" <strong>- zoomer, April 17, 2018</strong></span></em></span>

#96 johnk

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Posted 10 January 2017 - 01:43 PM

Why does the homeowner grant program even exist? Is there any good economic rationale for it?


Of course there is no economic rationale!

Edited by johnk, 10 January 2017 - 01:44 PM.


#97 Nparker

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Posted 10 January 2017 - 02:07 PM

Whenever one level of government has a program (that costs lots of money to administer) in order to pay the taxes of another level of government you know the whole thing is idiotic pure wastefulness.

While I don't necessarily disagree, a lot of people would be hurting come property tax time if the HOG were to suddenly disappear. What's only $500 extra to some people would be a hardship to others; the property rich, income poor folks especially.

Getting rid of MSP premiums would be a much better place to start in disposing of costly to administer programs that could be funded alternatively.


Edited by Nparker, 10 January 2017 - 02:07 PM.

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#98 LeoVictoria

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Posted 10 January 2017 - 02:40 PM

While I don't necessarily disagree, a lot of people would be hurting come property tax time if the HOG were to suddenly disappear. What's only $500 extra to some people would be a hardship to others; the property rich, income poor folks especially.

Getting rid of MSP premiums would be a much better place to start in disposing of costly to administer programs that could be funded alternatively.

 

Sure, but the government could easily scrap the program and just reduce another tax to break even.   



#99 http

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Posted 10 January 2017 - 02:54 PM

If the HOG disappeared municipal property taxes would go up for 90% of homeowners in the province. Any government that does that hasn't a hope in hell of getting elected.

 

I sure hope you meant if the HOG disappeared, 90% of homeowners would have to pay their tax bill themselves.


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#100 Nparker

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Posted 10 January 2017 - 03:13 PM

I sure hope you meant if the HOG disappeared, 90% of homeowners would have to pay their tax bill themselves.

The amount homeowners would have to pay out of their pockets to their local municipality would increase; in essence their taxes would go up from the taxpayers' perspective.



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