Real Estate

Property Assessment Value

  • Last Updated:
  • Jun 22nd, 2018 9:47 am
Deal Addict
Apr 22, 2014
4237 posts
1821 upvotes
, ON

Property Assessment Value

How do you get an idea of what will be the approximate assessment value on a pre construction townhome?
I need to know this so I can get an idea of how much the property tax will be.
5 replies
Deal Fanatic
Nov 22, 2015
7846 posts
8794 upvotes
anotherbargainhunter wrote: How do you get an idea of what will be the approximate assessment value on a pre construction townhome?
I need to know this so I can get an idea of how much the property tax will be.
1% of the purchase price is a decent estimate.
Banned
Dec 28, 2015
614 posts
239 upvotes
Westmount, QC
anotherbargainhunter wrote: How do you get an idea of what will be the approximate assessment value on a pre construction townhome?
I need to know this so I can get an idea of how much the property tax will be.
It will be purchase price as that will be sent to mpac and adjusted to assessment year with escalator if required
Deal Addict
Mar 14, 2006
4409 posts
819 upvotes
the assessment in most cases will always be lower than the purchase price. ie a 900k pre-con house can easily be assessed at 700k. I think the purchase price minus the HST (13%) is a safer bet in terms of the assessed value, again that could be off as well.
Deal Fanatic
Mar 15, 2005
6023 posts
1869 upvotes
For rough numbers it is probably best to assume about 1% of the value of the home.
Member
May 13, 2007
306 posts
54 upvotes
Toronto
Did OP find his answer yet?

Based on this MPAC video, when there are many new Pre-Con being built in that area especially when many of them are full detached, it will help to bring his TownHome property tax being lower than the rests. So by using 1% is not really accurate although it helps to budget in advance.


I remembered seeing a free online tool that can see the value of homes, but can’t remember the website.

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