Real Estate

Hamilton — tax assessment vs. home prices

  • Last Updated:
  • Sep 7th, 2020 11:55 am
[OP]
Jr. Member
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Sep 5, 2018
198 posts
348 upvotes

Hamilton — tax assessment vs. home prices

While home prices have exploded everywhere, anyone have insight into assessed values?

In the photos below, using 100 Appleford Court as an example:
- The house is listed for $679,000. On housesigma similar houses have sold between 600-680k in the last year.
- The Hamilton Property Tax inquiry site has assessed this property at a 347k value in 2020, and at that price taxes are $4124

According to (https://wowa.ca/taxes/hamilton-property-tax) a house with an assessed value of 680k should actually be paying $8310, double that of the current assessment.

Does that mean Hamilton is now grossly overvalued, or, in the next few years homeowners are in for a rude awakening when their taxes double?

How do you interpret this?
Images
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Late Cycle Investing
2 replies
Sr. Member
Jan 22, 2012
613 posts
238 upvotes
Bradford
Well if MPAC was in line with some property values then property taxes would be ridiculous.
Deal Fanatic
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Jan 6, 2002
6246 posts
6578 upvotes
Toronto
Topher86 wrote: Well if MPAC was in line with some property values then property taxes would be ridiculous.
No, the mill rate would just be lower and absolute taxes would be about the same.
As someone long prepared for the occasion, in full command of every plan you wrecked---
Do not choose a coward's explanation, that hides behind the cause and the effect...

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