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2019 Property Taxes


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#1 snub

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Posted 23 May 2019 - 08:59 PM

Received the tax notice for my humble abode in Downtown Langford today. Up 12% from last year. That's a big jump compared to previous years, usually 3 or 4%. Wondering if anyone else has seen this big of a jump. Maybe they screwed up when doing the math.

 

On the bright side, I turn 65 this year so I get the additional grant.

 

On the gloomy side, I am really, really old.


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#2 lanforod

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Posted 24 May 2019 - 07:47 AM

I think in general, on the mainland and here, condos went up quite a bit compared to SFH. It balances out over the years. I own one of each, the house was in the 5% range (Saanich, in line with the general increase), the condo looks like 15% range (New West).



#3 Mike K.

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Posted 24 May 2019 - 07:59 AM

2x to 7x inflation. That should help out with the affordability aspect.

And that’s just one tax, folks.


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#4 Lorenzo

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Posted 24 May 2019 - 08:09 AM

Received the tax notice for my humble abode in Downtown Langford today. Up 12% from last year. That's a big jump compared to previous years, usually 3 or 4%. Wondering if anyone else has seen this big of a jump. Maybe they screwed up when doing the math.

 

On the bright side, I turn 65 this year so I get the additional grant.

 

On the gloomy side, I am really, really old.

Well somebody has to pay for the boulevard carpets! Which by the way look absolutely ridiculous when the weeds start poking up around the edges. So much for no-maintenance.



#5 snub

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Posted 24 May 2019 - 07:50 PM

Well, maybe my math is bad. Last year I paid $1362.00. This year $1523.00. Looks like about 12% to me.

 

This snippet from the colorful brochure that came with the tax notice.

 

 

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#6 tommy

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Posted 24 May 2019 - 09:03 PM

Received the tax notice for my humble abode in Downtown Langford today. Up 12% from last year. That's a big jump compared to previous years, usually 3 or 4%. Wondering if anyone else has seen this big of a jump. Maybe they screwed up when doing the math.

 

On the bright side, I turn 65 this year so I get the additional grant.

 

On the gloomy side, I am really, really old.

assessment up 15% (+100K), tax bill up 10.3%(+$363)... avg for my class was 8.48

 

but i don't mind because the province pays my taxes for me

anyone over 55 can apply for a deferral, and the guvmint will cover your tax bill and charge simple interest on the amount - the current rate is 1.45% ... https://news.gov.bc....8FIN0023-000951

 

on the other hand if you bought royal bank, solid blue chip dividend stock the 5 yr return is close to 10% --- free money if you ask me!  https://quote.mornin...en-CA&ops=clear


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#7 DavidC

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Posted 25 May 2019 - 07:47 AM

Our assessment was down 7% this year after consistent increases since purchasing a James Bay condo in 2015.
Nonetheless I expected a nominal increase in property tax, only to be shocked when the bill was received with an 11% reduction!
Minor miracles do happen it seems.
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#8 tommy

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Posted 25 May 2019 - 08:50 AM

Our assessment was down 7% this year after consistent increases since purchasing a James Bay condo in 2015.
Nonetheless I expected a nominal increase in property tax, only to be shocked when the bill was received with an 11% reduction!
Minor miracles do happen it seems.

no surprise...in general if you assessment rises less than the average assessment for your class, then your proportion of the tax bill decreases and you get a lower bill... since average residential assessment was up by 8.4% and yours was down by 7% - the differential of 15% means you get a lower tax bill 

 

the average assessment rise of 8.4% was all residential properties (sf, condo, hughrise), condo assessments had a slightly different increase but the end result is the same



#9 DavidC

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Posted 25 May 2019 - 09:44 AM

no surprise...in general if you assessment rises less than the average assessment for your class, then your proportion of the tax bill decreases and you get a lower bill... since average residential assessment was up by 8.4% and yours was down by 7% - the differential of 15% means you get a lower tax bill 
 
the average assessment rise of 8.4% was all residential properties (sf, condo, hughrise), condo assessments had a slightly different increase but the end result is the same

Hmmm... if only the City of Edmonton (where I also reside) worked this way.
Assessments have gone done each of the last 4-5 years, yet every year a tax increase, up 3.5% this year. ☹️

#10 Mike K.

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Posted 25 May 2019 - 09:55 AM

Right, and that’s because of the mill rate. So long as everyone’s assessments rise and fall in unison (with variances between them, course) your tax obligation remains more or less the same.
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#11 tommy

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Posted 25 May 2019 - 10:53 AM

Hmmm... if only the City of Edmonton (where I also reside) worked this way.
Assessments have gone done each of the last 4-5 years, yet every year a tax increase, up 3.5% this year. ☹️

the "mill rate" , which is the amount per $1000 of assessment, went down in the CofV - from 5.2 to 5.0 - a drop of a little less than 4% - so if your assessment stayed the same your tax bill would go down by 4%. in you case the assessment dropped as well so the decrease was multiplied.



#12 tommy

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Posted 25 May 2019 - 10:58 AM

the "mill rate" , which is the amount per $1000 of assessment, went down in the CofV - from 5.2 to 5.0 - a drop of a little less than 4% - so if your assessment stayed the same your tax bill would go down by 4%. in you case the assessment dropped as well so the decrease was multiplied.

sadly , in my case although the mill rate went down by 4%, my assessment went up by 10% - so my tax bill went up - but as explained in a previous post i have a workaround of sorts for that!



#13 Victoria Watcher

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Posted 25 May 2019 - 11:09 AM

the "mill rate" , which is the amount per $1000 of assessment, went down in the CofV - from 5.2 to 5.0 - a drop of a little less than 4% - so if your assessment stayed the same your tax bill would go down by 4%. in you case the assessment dropped as well so the decrease was multiplied.


no it depends on the entire collection of property values. yours staying the same is only a tiny part of the picture. It’s also how it did in proportional comparison to all others.

#14 tommy

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Posted 25 May 2019 - 11:37 AM

tommy, on 25 May 2019 - 11:53 AM, said:snapback.png

the "mill rate" , which is the amount per $1000 of assessment, went down in the CofV - from 5.2 to 5.0 - a drop of a little less than 4% - so if your assessment stayed the same your tax bill would go down by 4%. in you case the assessment dropped as well so the decrease was multiplied.

no it depends on the entire collection of property values. yours staying the same is only a tiny part of the picture. It’s also how it did in proportional comparison to all others.

note in the original comment it was pointed out that the assessment stayed the same which, relative to others, was a decrease - so a decrease times a decrease is...

 

...here is a theoretical... 

 

my assessment is $500,000 in 2018 and the mill rate is 5.2 so i pay $2600 in tax.

 

my assessment is $500,000 in 2019 (it stays the same) and the mill rate is 5.0 so i pay $2500 in tax.

 

i paid $100 less - how is that not a 4% decrease.

 

in the case of DavidC above his assessment went down 7%...so now the numbers are;

 

my assessment is $500,000 in 2018 and the mill rate is 5.2 so i pay $2600 in tax.

 

my assessment is $465,000 in 2019 (down 7%) and the mill rate is 5.0 so i pay $2325 in tax.

 

looks like around 11% + decrease to me.


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#15 DavidC

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Posted 25 May 2019 - 03:58 PM

Fun with math... thanks all for the (re-)education.
As each year ticks around to tax time, the logic appears to escape me.

#16 snub

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Posted 03 June 2019 - 04:52 PM

Received the tax notice for my house in Colwood. Up 5.6%. Strange that it's half of what Langford is gouging me, since Colwood has diddly squat in commercial revenue.



#17 LJ

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Posted 03 June 2019 - 07:25 PM

My assessed value is about the same as last year down just slightly but my taxes are less this year than last.


Life's a journey......so roll down the window and enjoy the breeze.

#18 Linear Thinker

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Posted 03 June 2019 - 07:54 PM

Here in Esquimalt, assessment up 6.5%.

Property tax after HOG up 3.5%.



 



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