Quote:
Originally Posted by rrskylar
So much for a Katz tax freeze every property owner in the city will now be paying hundreds more annually , this seems to have eluded local media.
Since banishing myself from the Winnipeg NHL thread, I have one more thing to say: Non-issue. It's handled internally. I'm not talking about it. Now what don't we understand about that?
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Market based property taxes is normal for most Canadian Cities. In Calgary for the 9th straight year; taxes have increased not only for the market increase rate but also and average of 6% on top of that per year..
So, it is the "market value" of your house "tax increase", plus an "annual 6 % increase"... double whammy in Calgary!!
Winnipeg is still getting a
0% annual increase but you are getting a "market value" increase. The city would have to change the mill rate downward to keep taxes level and have a 0% annual increase. Highly unlikely..
This is oddly good news because it means your equity is raising faster than what you pay in taxes. I.E...if your house goes up 10K you may pay $200 more per year. Everyone here can do the math and see why you come out a head..