Comments on: How to Save Money on Property Taxes

By: Tim

Tim — Fri, 12 Feb 2010 04:44:36 +0000

MPAC has been inflating assessments for some time. Why? most people do not complain. This is bad for everyone. People like to see that high assessment when they are selling. Its not a supporting document people – its a tax grab. I bought a house for 20% less than its assessed value. I complianed and MPAC did exactly what I though – they reduced my property value but not quite 50% of the difference. So off to appeal I go. I just bought it. The house was on the market forever. There is no better way to value a house than a sale. Especially when on the market for months and months. MPAC tries to hide behind a mask but make no mistake – they work to overvalue your house because they are indeed a crown corp. Why do people work for these companies and play their games? MPAC, REV Canada … you get people who are screwing their neighbors … for what? A meager paycheck? That is so very weak. We all know these people. They got picked on in school and now think they have power. But the reality is they now work for the bully – and they do it for cheap! Thats gotta be a sad exhistance. No wonder they are all fat, bald and eventually get cancer.

By: Frugal Home Tips | beingfrugal.net

Frugal Home Tips | beingfrugal.net — Fri, 01 Feb 2008 12:14:56 +0000

[...] If you feel that your property value was assessed at higher than the actual value of your home, have it reassessed, so your property taxes are [...]

By: Four Pillars

Four Pillars — Sun, 06 Jan 2008 04:51:39 +0000

Tee – I don’t think this is a good idea because someone who bought a house a long time ago wouldn’t be paying their fair share of taxes.

Mike

By: Tee

Tee — Sat, 05 Jan 2008 16:59:24 +0000

During the last Ontario provincial election, Howard Hampton was promising to freeze the assessed value of a home at purchase price until it’s sold, at which point the value would be reassessed.

Sounds like a great idea.

By: fathersez

fathersez — Sat, 05 Jan 2008 13:41:40 +0000

Oh! I am not sure if we can fight individually in our country.

Here, everyonce in a while, there will be a ruckus raised in the press by people, when the Gomen raises the rates.

But the rates are quite uniformly applied and the valuation is also a little lower than the market prices.

By: Mr. Cheap

Mr. Cheap — Sat, 05 Jan 2008 03:05:25 +0000

Dan: I think it would be fairly unlikely that they’d just decide to raise your assessment (they do it in “waves” where everyone gets re-assessed at once). If they raised it because you contested it, that would seem pretty punative and I could see people getting angry (I would if I heard they were doing that to property owners).

When you say you want to contest it, they give you access to a system where you can look up properties and see what they’ve been assessed at, so you can easily look at what your neighbours assessments are…

By: Four Pillars

Four Pillars — Sat, 05 Jan 2008 00:57:48 +0000

Dan – that would be quite unfortunate. Perhaps it would be useful to find out what your neighbours pay for taxes before asking for an assessment?

Mike

By: Dan

Dan — Fri, 04 Jan 2008 22:37:21 +0000

On the flipside to this discussion – is there any risk that MPAC may actually find a property as being assessed too low and *increase* the value instead?

I’m worried that if I call to argue my assessment, mpac may come back and say “wait a minute”, you should be valued at X (a number higher than the current one).

I’m assuming MPAC take into consideration the last purchase price of the home when calculating their numbers?

By: FourPillars

FourPillars — Fri, 04 Jan 2008 18:32:55 +0000

MM – that’s a interesting point but in my experience in a rising market (in Toronto) everyone knows that the assessments are out of date so I don’t think anyone (except Mr. Cheap ) would consider the assessed value when buying a house. In a flat market it might be more relevant.

As long as you are the only bidder it’s a great strategy to try…

Mike

By: Mr. Cheap

Mr. Cheap — Fri, 04 Jan 2008 18:21:51 +0000

LB: I considered “threatening” MPAC that I’d do exactly that if they wouldn’t give me a good reduction. They I thought that blackmailing crown corporations might not be the best idea. Great idea just to help out the building (and ideally to get someone else to fight for you if the management is any good).

MM: I was concerned with that myself (and actually tried to use that as a negotating tactic: “you’re asking a lot more than the assessed value”). Everyone *seems* to view the assessed value as something totally separate from the true value (even the assessors).

PK: Good to hear that I’ll be able to fight them again if it shoots up too quickly on the next assessment. Maybe I should have fought harder to get it lowered now (then fought to keep it down)…