Poll on property tax, Plz Participate

[gman]

oh thanks that make sense. but what about income tax? Those probably to straight to federal and provinical gov huh?

Yes.

[ramoose]

Doing an econ researchish (ok it's only a 2nd yr econ course) assignment.

Need to find out how much property tax you guys pay relative to the current market value of your house (if u don't know the exact price, a guestimate is accepted).

Anyway, plz participate in the poll so I can back up the crap I'm presenting. Thanks pplz.

How to calculate?? use the amount u paid in property tax / (market value of your house)

EDIT
ok, for those of u listed 1.3 or greater, if u can plz reply with exact percentage, it'll be appreciated.

how it's assessed??
http://ottawa.ca/city_services/propt...ments_en.shtml

1.5% in the shwa

[rc51]

roughly 1.8 here in the south part of Wpg. This city is ridiculous for property taxes..and it varies greatly where you are in the city.

[JoKeRr]

1.5% in the shwa

holy crap, that sounds high. I live in a very nice part of Toronto (walking distance to a golf course) and I live in a big bunglo, my parents told me the tax and it only came out to be 0.9%. hm, maybe toronto's cheaper?

[gman]

holy crap, that sounds high. I live in a very nice part of Toronto (walking distance to a golf course) and I live in a big bunglo, my parents told me the tax and it only came out to be 0.9%. hm, maybe toronto's cheaper?

Depends on how you define cheap. The property value of Oshawa is lower than Toronto.

O x 1.6% can be lower than T x 0.9%.

On the other hand, Oshawa residence paid more than their own share in property tax. GM pays pretty low rate of their commercial property tax. The problem is there is still a government to be run. Somebody needs to pay for it. Guess who?

[JoKeRr]

Depends on how you define cheap. The property value of Oshawa is lower than Toronto.

O x 1.6% can be lower than T x 0.9%.

On the other hand, Oshawa residence paid more than their own share in property tax. GM pays pretty low rate of their commercial property tax. The problem is there is still a government to be run. Somebody needs to pay for it. Guess who?

So overall property tax is REGRESSIVE?? I thought it would have made more sense if it was progressive. btw, residential property tax only.

[gman]

So overall property tax is REGRESSIVE?? I thought it would have made more sense if it was progressive. btw, residential property tax only.

It is not about progressive or regressive. Different municipality has different and independent rate. Different municipality has different budget and different tax base. Say, 2 different municipalities have the same number of property and the same budget. Both of them needs $N millions. The total property value of municipality A is $100N millions. The total property value of municipality B is $200N millions. To get $N millions, municipality A's mill rate will be 1%. To get same $N millions, municipality B's mill rate will be 0.5%.

There are different classes of property. There is residential, commercial, farm, ..special treatment, etc. The main portion is residential and commercial. If the tax rate on commercial is low, the municipality will raise the residential to get enough money. You may ask why. It is because a municipality may lower the commerical property tax to attract businese to move there. For Oshawa's case, GM has a special deal with the government so that they put their factory there.

[700mb80min]

my area of N.S. i pay close to 1.9% but homes are very cheap.

[JoKeRr]

actually, just did some more research, seems property tax is a regressive tax OVERALL--which means u pay more percentage wise if your house is not as nice, hm, this is ******. btw, PLZ list how much you're actually paying percentage wise. thankQ

[gman]

actually, just did some more research, seems property tax is a regressive tax OVERALL--which means u pay more percentage wise if your house is not as nice, hm, this is ******. btw, PLZ list how much you're actually paying percentage wise. thankQ

Not really. In the same municipality, the percentage is the same based on the assessment value.

I don't remember the assessment value of my property and I don't know the market value of my property either. Hence, I can't give you a percentage.

[JoKeRr]

Not really. In the same municipality, the percentage is the same based on the assessment value.

I don't remember the assessment value of my property and I don't know the market value of my property either. Hence, I can't give you a percentage.

think: how much did a house sell for in your neighborhood recently?? and how does it compare to yours??

[blakeatwork]

Conservative Market Value: 0.0114%
Aggressive Market Value: 0.0103%
Assessed (MPAC) Value: 0.0144%

[gman]

think: how much did a house sell for in your neighborhood recently?? and how does it compare to yours??

I don't know how much a house sold for in my neighborhood and I don't really care. I just hope they sold theirs as low as possible.

I don't really care about the market value. I care about the assessment value which affects my amount of property tax. Market value does not affect my property tax directly although when the assessment value has the market value factored it, it will.