holy cow... from 118K to 211K.. thats ones hell of a change and I am fairly certain I could not actually get 211K for my house if I put it on the market right now. Dead certain in fact...
so now what?
so now what?
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2010 assessment YIKES!!
+2
LivingDead
Deank
6 posters
Message [Page 1 of 1]
2 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 6:50 pm
LivingDead
general-contributor
Deank wrote:holy cow... from 118K to 211K.. thats ones hell of a change and I am fairly certain I could not actually get 211K for my house if I put it on the market right now. Dead certain in fact...
so now what?
Mine went up 81k ** edited I put 77k by misteak**
I'm going to appeal it.
Last edited by LivingDead on Fri Oct 10, 2008 9:52 pm; edited 1 time in total
3 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 6:51 pm
Deank
contributor eminence
yeah.. one other thing.. it indicates on mine.. "light traffic" I have always wondered about that... its a fairly heavily used street. Does that actually impact the assesment value or rate at all?
4 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 7:09 pm
rosencrentz
uber-contributor
The assessment is supposed to be fair market value of either 3 or 5 years ago!
I appealed mine, and ended up negotiating with someone over the phone, just before we were supposed to go in front of a board to argue the case.
The person accepted what I thought was the true value.
I am not sure what the difference was, but the procedure was painless, and quite fair.
Check out what the assessment says, and remember that it is supposed to be what your house would have sold for either 3 or 5 years ago, and that Wpg prices have been going up around 10% per year, so if your house would sell for 200,000 today then the assessment should be appx 150,000 , based on 3 years ago!
I appealed mine, and ended up negotiating with someone over the phone, just before we were supposed to go in front of a board to argue the case.
The person accepted what I thought was the true value.
I am not sure what the difference was, but the procedure was painless, and quite fair.
Check out what the assessment says, and remember that it is supposed to be what your house would have sold for either 3 or 5 years ago, and that Wpg prices have been going up around 10% per year, so if your house would sell for 200,000 today then the assessment should be appx 150,000 , based on 3 years ago!
5 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 8:30 pm
Guest
Guest
I was wondering what all of these inflated values would do assessments. The end result is this after all don't expect the city to want less then you would to sell it . I pay mine with the mortage and it is not quite as much of a shock.
6 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 9:30 pm
Deank
contributor eminence
oh I understand that.. But I know for sure I would not get that kind of money for my house.
7 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 9:44 pm
Guest
Guest
Well I never said that I would see the day a cottage in the Whiteshell would sell for what they do . LOW maybe but the Whiteshell hell you don't even own the land .
8 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 11:13 pm
SMW
major-contributor
Deank wrote:oh I understand that.. But I know for sure I would not get that kind of money for my house.
I know how you feel, my house's assessed value is set to literally double! I don't think I'd ever get $110K for my little West K shack - at least not without extensive renovations.
9 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 11:24 pm
FlyingRat
moderator
I think that refers to the optic fibre cable running past your house, no? ;-)Deank wrote:yeah.. one other thing.. it indicates on mine.. "light traffic" I have always wondered about that... its a fairly heavily used street. Does that actually impact the assesment value or rate at all?
10 Re: 2010 assessment YIKES!! Thu Oct 09, 2008 11:27 pm
FlyingRat
moderator
You guys would be surprised what little shacks can get nowadays! Its sickening.
11 Re: 2010 assessment YIKES!! Fri Oct 10, 2008 7:39 am
rosencrentz
uber-contributor
DeanK-
What would your house sell for today?
Not sure call in a real estate agent that knows your area.
Then deduct either 30% or 50% depending on when the value is supposed to be based on, either 3 or 5 years ago. That should be on that note from the city.
Or, check what the value is currently, and what year that was, and add 7% to that and you should have an evaluation , a little lower than it might be!
If I remember , that is what I did, and when I sent them my fax or mailed in complaint, I pointed out that their % increase was unreasonable, in my opinion!
I also pointed out that my house was the worst one on the block, something that I was very proud of!
I live in a shack on Wellington Crescent!! lol
What would your house sell for today?
Not sure call in a real estate agent that knows your area.
Then deduct either 30% or 50% depending on when the value is supposed to be based on, either 3 or 5 years ago. That should be on that note from the city.
Or, check what the value is currently, and what year that was, and add 7% to that and you should have an evaluation , a little lower than it might be!
If I remember , that is what I did, and when I sent them my fax or mailed in complaint, I pointed out that their % increase was unreasonable, in my opinion!
I also pointed out that my house was the worst one on the block, something that I was very proud of!
I live in a shack on Wellington Crescent!! lol
12 Re: 2010 assessment YIKES!! Fri Oct 10, 2008 9:32 am
Deank
contributor eminence
FlyingRat wrote:I think that refers to the optic fibre cable running past your house, no? ;-)Deank wrote:yeah.. one other thing.. it indicates on mine.. "light traffic" I have always wondered about that... its a fairly heavily used street. Does that actually impact the assesment value or rate at all?
oh thats bad...
13 Re: 2010 assessment YIKES!! Fri Oct 10, 2008 9:35 am
Deank
contributor eminence
My house would not sell for more then 200K today. What it would have sold for 3 to 5 years ago? well Considering I purchased it 4 years ago... after it sat on the market for 60 days I paid 139K. My last market evaluation was two years ago for 165K. The house behind me sold this year for 198K it was bigger and had a much bigger insulated garage. The house two doors down just sold for 165K and is only about 100 SQ feet smaller... but has a much smaller yard.
And then throw our current economic turmoil into the twist... no way I would get 211K for my house.. unless someone at a bank somewhere was seriously drunk or the purchaser was a drug grower who had cash to purchase straight out.
And then throw our current economic turmoil into the twist... no way I would get 211K for my house.. unless someone at a bank somewhere was seriously drunk or the purchaser was a drug grower who had cash to purchase straight out.
14 Re: 2010 assessment YIKES!! Fri Oct 10, 2008 9:49 pm
MrMyles
contributor
Got my assessment today. Value doubled. I know I built a deck, but wow, it's not that great of a deck.
Could I sell the house for what they value it at? Maybe.
Couple coats of paint, and actually finishing the reno's I keep starting and I might get that much.
Will I request to get it lowered?
Probably not.
Could I sell the house for what they value it at? Maybe.
Couple coats of paint, and actually finishing the reno's I keep starting and I might get that much.
Will I request to get it lowered?
Probably not.
15 Re: 2010 assessment YIKES!! Sat Oct 11, 2008 10:52 am
Guest
Guest
The new assessment is nothing to worry about, it's the mil rate we have to be concerned about.
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