tag:blogger.com,1999:blog-5936637281134795592.post7335843048295682980..comments2024-03-08T08:55:52.985-08:00Comments on Whispers from the Edge of the Rainforest: Horseshoe Bay Property Assessment: A preview of what's to come?Unknownnoreply@blogger.comBlogger15125tag:blogger.com,1999:blog-5936637281134795592.post-76189910316424661432012-12-01T01:39:05.692-08:002012-12-01T01:39:05.692-08:00Just curious, how those "poor" municipal...Just curious, how those "poor" municipalities, including The District of West Vancouver,<br />were surviving 10+ years ago, when prices, thus tax revenues were 3 times lower? (but the cost of labour and materials to repair the streets stays the same as it was)<br /> <br />Probably they hired more expensive house estimators :-)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-55883307021772600122012-11-28T09:57:14.865-08:002012-11-28T09:57:14.865-08:00I can't count the number of times I've rea...I can't count the number of times I've read posts like this that don't understand property taxes. If the housing assessments go down, it doesn't change the city's budget or requirement for the same amount of funds. You pay the same taxes, regardless. Our houses can collectively all go to $1 each and we're still going to pay the same property taxes. The only exception is this one case where the assessment changes relative to everyone else. Nice try!Raynoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-15656590045580219592012-11-27T20:19:29.889-08:002012-11-27T20:19:29.889-08:00$20.00, huh?
I suggest that anyone going to BC ...$20.00, huh? <br /><br />I suggest that anyone going to BC Assessment to ask for a significant reduction in the assessed value of their land, should be, upon the granting of the reduction, be required to put that land+property up for auction, one time only, with a reserve price set at the new assessed value.<br /><br />This would reduce the number of spurious value reduction claims and eliminate such obviously wrong valuations such as this one. <br /><br />Hell, I'd throw in $20 for the land just to get a permanent parking space...<br /><br />West Van Tree Dwellernoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-27015680178828827072012-11-27T18:28:33.743-08:002012-11-27T18:28:33.743-08:00I believe the multiplier is called a "mill ra...I believe the multiplier is called a "mill rate" which is determined by the tax department.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-91782648057058799742012-11-26T21:54:46.085-08:002012-11-26T21:54:46.085-08:00Another value investor has it. They will just adj...Another value investor has it. They will just adjust the multiplier to make sure they are whole + the usual 2,3,5 or whatever percent tax increase they decide to impose.<br /><br />Likewise when property was going up at 10 or 20 percent per year revenues were not going up at that rate but at the council approved tax increase rate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-59142435642616794002012-11-26T18:23:18.234-08:002012-11-26T18:23:18.234-08:00Way back in ancient history, the ferry terminal wa...Way back in ancient history, the ferry terminal was supposed to be located on LuLu Island. But for reasons I can't recall off hand, it was moved to Horseshoe Bay and Tsawwassen. But the taxes should be based on revenue generation, which is the only fair way to value this government owned property.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-70273866239406280342012-11-26T15:28:23.793-08:002012-11-26T15:28:23.793-08:00I would think that this has been the discussion be...I would think that this has been the discussion behind closed doors for a year or more in all municipalities.<br /><br />In a balanced community is it not around 60% residential and 40% commercial? So business must be worried as well. It may bode well for municipalities to keep that firetruck for another year or two, extend the vehicle life of service vehicles and unions had better be wary - the public/taxpayer of which you are probably one are not going to be happy.....<br /><br />Cheers,Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-88320623145932835552012-11-26T15:04:38.560-08:002012-11-26T15:04:38.560-08:00Where exactly is the land located on the terminal?...Where exactly is the land located on the terminal? because I will gladly purchase it at this new reduced assessment value.<br /><br />Who knows, the way things are going with BC Ferries they may not need it in the future due to low passenger loads...Landbaronnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-37995437760662758492012-11-26T14:17:58.522-08:002012-11-26T14:17:58.522-08:00Typo in third paragraph... Do you mean will not dr...Typo in third paragraph... Do you mean will not drop too much?<br />Real comment: So why would West Vancouver even want a ferry terminal there with the traffic, noise, pollution and a huge tract of land removed from a better use at all if they get no tax revenue? BC Ferries is constantly attempting to prevent passengers from leaving the terminal and supporting local businesses (In Swartz Bay recently I found they had eliminated the exit one could previously take to have a lovely walk in Canoe Cove and a bite at the Stone House. They call it security, I call it a captive audience for terrible and overpriced food.)<br />This one has huge implications for any terminal within a municipality.alexcanuckhttps://www.blogger.com/profile/08605337369229736033noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-45108397546786530432012-11-26T12:10:08.922-08:002012-11-26T12:10:08.922-08:00ya that's exactly my point. if assessed value...ya that's exactly my point. if assessed value drops, the tax rate will probably increase to make the city "whole". Of course, there's a limit to how much the tax amount can be increased.another value investorhttps://www.blogger.com/profile/07659083327214275843noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-91483826199138478882012-11-26T11:49:11.652-08:002012-11-26T11:49:11.652-08:00Sounds pretty dramatic eh, lol.. from $47M to $20!...Sounds pretty dramatic eh, lol.. from $47M to $20!VMDnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-51987493237880273822012-11-26T11:23:50.320-08:002012-11-26T11:23:50.320-08:00You are correct, I will update this part.You are correct, I will update this part.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-12621393530901694012012-11-26T11:20:10.214-08:002012-11-26T11:20:10.214-08:00In Surrey property taxes are determined by dividin...In Surrey property taxes are determined by dividing the current assessed value of land and improvements as determined by BC Assessment (see below for BC Assessment's key dates) by 1,000 and multiplying by the rate for the class type (in the case of residential homes it would be 2.35469). <br /><br />If the assessed value drops, the amount paid will drop... baring a tax increase, of course.Whispererhttps://www.blogger.com/profile/03524022285962626228noreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-91979967028918749042012-11-26T11:19:28.909-08:002012-11-26T11:19:28.909-08:00I believe it's $20.00 dollars, not $20M..
htt...I believe it's $20.00 dollars, not $20M..<br /><br />http://www.biv.com/article/20121122/BIV0118/121129979/-1/BIV/west-van-goes-to-court-over-20-valuation-of-horseshoe-bay-ferryVMDnoreply@blogger.comtag:blogger.com,1999:blog-5936637281134795592.post-77450348930137272092012-11-26T11:07:28.790-08:002012-11-26T11:07:28.790-08:00The way i understand it, municipalities come up wi...The way i understand it, municipalities come up with some kind of budget for the next year, say $X. Then it divides $X by the total assessed value of the properties within its jurisdiction and determine the tax for each property accordingly.<br /><br />Thus, for the case of West Van, I think when one property has significant value drop relative to the rest, the rest of the homeowners will see an increase in taxes.<br /><br />For cases like Richmond, if assessed property values drop across the board, everyone is expected to pay similar amount of property taxes (adjusted for inflation).another value investorhttps://www.blogger.com/profile/07659083327214275843noreply@blogger.com