#8673133 - 05/27/16 06:12 AM
There will be moaners and whiners
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Choco 'Nuck
Proud Member of BLM
Post Master Supreme
Registered: 07/10/01
Posts: 17568
Loc: Somewhere out there
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https://www.thestar.com/business/2016/05...es-soaring.html
MPAC assessments coming out, property taxes are gonna hurt real bad in areas where there has been more appreciation than average (Maaaaarkum)
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#8673138 - 05/27/16 06:51 AM
Re: There will be moaners and whiners
[Re: Choco 'Nuck]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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Good. Tired of Durham region being the only "rape city" region.
Toronto should be paying way more too, those fucks
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#8673149 - 05/27/16 07:13 AM
Re: There will be moaners and whiners
[Re: Denis Si]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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Durham rape ain't gonna change since the multiplier (rate) is still the highest.
Also since we are on the topic, could someone help me out with how these increases actually affect tax payable?
On the one hand, my understanding was that tax payable is a simple calc: MPAC assessed value x tax rate (e.g. $200,000 * 1.5% = 3000 a year in prop tax).
So if in this new round of assessment, the value goes up 10%, then to me that would mean a new calc, 220k * 1.5% = 3300
However,
I keep reading about this thing that tax payable only goes up if your home's rate of increase is higher than the average increase of the neighbourhood. So if the whole hood went up 10%, and you went up 10%, then there should be no increase in the tax amount.
If this is true, how does this reconcile with the simple formula? What is adjusted to keep the tax the same?
/ib4callthetaxman
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#8673156 - 05/27/16 07:24 AM
Re: There will be moaners and whiners
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Markham historically has the lowest increases in property taxes in all of the GTA... No fucks given here 
<- also small house, finally it's beneficial somewhere!
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#8673160 - 05/27/16 07:30 AM
Re: There will be moaners and whiners
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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^^ that's only referring to increases in the tax rate. Won't affect how the MPAC assessment will come in :P
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#8673166 - 05/27/16 07:34 AM
Re: There will be moaners and whiners
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Fucking liberals /Toronto sun /c2k
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#8673168 - 05/27/16 07:38 AM
Re: There will be moaners and whiners
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Durham rape ain't gonna change since the multiplier (rate) is still the highest.
Also since we are on the topic, could someone help me out with how these increases actually affect tax payable?
On the one hand, my understanding was that tax payable is a simple calc: MPAC assessed value x tax rate (e.g. $200,000 * 1.5% = 3000 a year in prop tax).
So if in this new round of assessment, the value goes up 10%, then to me that would mean a new calc, 220k * 1.5% = 3300
However,
I keep reading about this thing that tax payable only goes up if your home's rate of increase is higher than the average increase of the neighbourhood. So if the whole hood went up 10%, and you went up 10%, then there should be no increase in the tax amount.
If this is true, how does this reconcile with the simple formula? What is adjusted to keep the tax the same?
/ib4callthetaxman
I missed this post, interdasting.
I have no idea how it works.
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#8673171 - 05/27/16 07:42 AM
Re: There will be moaners and whiners
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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See that's what I'm not getting.. say if MPAC doubled, the total effective municipal rate would have to be *reduced* (cut in half) to pay the same tax at the end of the day. There's no other way around it.
I am wondering if perhaps the actual assessed value determination itself is affected only by your *relative* increase
Aka your value went up 10%.. but so did the whole hood, so the assessed value stays the same as before.
But if the hood went up 10% and your house went up 20%, that's when your assessed value goes up in some proportion... and then you pay more tax.
Edit: http://torontoist.com/2014/01/everything-you-ever-wanted-to-know-about-property-taxes/
decent explanation in there
looks like municipalities set the budget first, then adjust the tax rate accordingly.. so theoretically if MPAC doubled, the municipal tax rate SHOULD decrease..........
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#8673186 - 05/27/16 07:58 AM
Re: There will be moaners and whiners
[Re: spd-dmn]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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I was just going to post, my initial thoughts were right, as per MPAC
Background
MPAC's role in processing municipal tax applications is to provide the municipality with the information it needs to enable municipal council to determine whether a tax refund, cancellation, reduction or increase is warranted.
As outlined in the Municipal Act, 2001, the jurisdiction to make decisions on applications for tax refunds or tax increases rests solely with municipal council.
So they can jack up the MPAC all they want, the tax payable will drop as a % of MPAC assessment (provided your city isn't one of the ones that rapes you). SO if it was 1% of MPAC value, now it will be .5% of it, etc.
Wayne, Markham wins again (lowest property tax increases in the GTA  )
CN: OP article is click bait shit.
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#8673192 - 05/27/16 08:03 AM
Re: There will be moaners and whiners
[Re: Risky Business]
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spd-dmn
Post Master
Registered: 11/24/04
Posts: 2271
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So this would seem to indicate that every person's tax rate is actually individualized to their particular property.
This would be the only mechanism to adjust for changes in relative value.
/themoreyouknow
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#8676966 - 05/31/16 04:46 PM
Re: There will be moaners and whiners
[Re: Big Tasty]
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The Postman
A-List Member also The Man
Post Master Sr
Registered: 02/13/02
Posts: 4974
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So whats everyone paying for prop tax in the GTA? Here in buckfuck Binbrook Im almost at $4k/yr. I think its almost doubled in 6 years.
Hamilton has to pay for the LRT somehow lol.
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#8677044 - 05/31/16 06:17 PM
Re: There will be moaners and whiners
[Re: The Postman]
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LNXGUY
Post Master Supreme
Registered: 08/06/00
Posts: 106943
Loc: Barrie, Ont,
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$5191 here.
_________________________
-Bill The GN would OWN you, your children and your children's children. '09 E90 335 d 
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#8677053 - 05/31/16 06:27 PM
Re: There will be moaners and whiners
[Re: LNXGUY]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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6500$ for this year.
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#8677071 - 05/31/16 06:46 PM
Re: There will be moaners and whiners
[Re: Denis Si]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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$4,002 
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#8677226 - 05/31/16 08:50 PM
Re: There will be moaners and whiners
[Re: Denis Si]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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But seriously that's very nice. It's a trade off with Durham region. Cheaper houses but you're stuck with high property tax and free curry breeze
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#8678012 - 06/01/16 01:53 PM
Re: There will be moaners and whiners
[Re: The Postman]
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c2k
Post Master Supreme
Registered: 05/21/00
Posts: 19291
Loc: Wiesloch-Walldorf, Germany
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So whats everyone paying for prop tax in the GTA? Here in buckfuck Binbrook Im almost at $4k/yr. I think its almost doubled in 6 years.
Hamilton has to pay for the LRT somehow lol.
Say what? Where are they getting the LRT? I know they are working on extending Red Hill Valley to Binbook now.
_________________________
Who cares
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#8678872 - 06/02/16 08:19 AM
Re: There will be moaners and whiners
[Re: Wildout]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Yours is probably going to be 8k in a couple of years.
I know people out your way and the size of your house most are paying like 7k+.
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#8678888 - 06/02/16 08:37 AM
Re: There will be moaners and whiners
[Re: Risky Business]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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Oshawa is the best doe lol. 3900 sqft home = 8700$ a year my coworkers pays
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#8678897 - 06/02/16 08:43 AM
Re: There will be moaners and whiners
[Re: Denis Si]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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Isn't that cheap for a house that size?? dafaq.
I thought Oshawa was the biggest rip off.
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#8678912 - 06/02/16 08:52 AM
Re: There will be moaners and whiners
[Re: Risky Business]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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Oshawa I think is the most expensive in all of GTA
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#8678930 - 06/02/16 09:04 AM
Re: There will be moaners and whiners
[Re: Wildout]
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Denis Si
Post Master
Registered: 04/11/01
Posts: 2798
Loc: T.O.
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Yes and no. R-hill would be around 6500
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#8678944 - 06/02/16 09:12 AM
Re: There will be moaners and whiners
[Re: Wildout]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44790
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2 million
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