2008 Property Tax Assessments

[VicHockeyFan]

Mods, not sure where to put this.

Amyway, mine went down $1000 from last year. How about everyone else?

[Rob Randall]

Mine is up 16%.

[Nparker]

I'm down $12,000 from last year, but was up an outrageos $70,000 last year over 2006, so I think this year's value is more realistic. BTW I am "almost downtown" on North Park Street...for those who had not yet guessed this by my name.

[Holden West]

NEW REPORT BREAKS DOWN LOCAL REAL ESTATE PRICE GAINS

C-FAX News
Jan 8, 2008

A NEW SURVEY OF HOUSE PRICE CHANGES ACROSS CANADA CONFIRMS THE OBVIOUS...VICTORIA'S PRICES WERE UP LAST YEAR.

THE DIFFERENCE BETWEEN THE ROYAL LEPAGE SURVEY AND OTHER MARKET SURVEYS IS THAT ROYAL LEPAGE BREAKS THE NUMBERS DOWN BY PROPERTY TYPE.

THE COMPANY SAYS AS OF THE 4TH QUARTER OF 2007, THE AVERAGE SELLING PRICE FOR A STANDARD BUNGALOW IN THE VICTORIA MARKET WAS 425 THOUSAND DOLLARS...UP 11.8 PER CENT FROM THE YEAR BEFORE. THE AVERAGE PRICE OF A STANDARD TWO STOREY HOUSE WAS 456 THOUSAND...UP 9.4 PER CENT. AND THE AVERAGE STANDARD CONDOMINIUM PRICE WAS 292 THOUSAND...UP ALMOST 23 PER CENT YEAR TO YEAR.

LUXURY AND "EXECUTIVE" PROPERTIES ARE EXCLUDED FROM THESE NUMBERS

- fms

[aastra]

I'm down $12,000 from last year, but was up an outrageos $70,000 last year over 2006...

Ouch. Nobody likes a $70,000 tax increase.

[Nparker]

Originally Posted by aastra

Ouch. Nobody likes a $70,000 tax increase.

Fortunately only my ASSESSMENT went up by that amount, not my property taxes!

[lushka]

We're in a bungalow on the Gorge and ours went up 17% over last year.

[Rob Randall]

NParker said in the "top ten election issues thread":

Originally Posted by Nparker

* Property Taxes

Too high or too low? Business or residential? I ask because some like Geoff Young would like to raise the residential tax rate to bring it more in line with the business rate (which the Province might reduce).

[Nparker]

Originally Posted by Rob Randall

NParker said in the "top ten election issues thread":

Too high or too low? Business or residential? I ask because some like Geoff Young would like to raise the residential tax rate to bring it more in line with the business rate (which the Province might reduce).

I should only comment on residential property taxes as I am not a business owner, but I would like to say that busineses can, to some extent, pass increased taxes on to their clients. As a homeowner I have no way to raise additional funds to pay my taxes. I only only ask that our elected officials keep an eye on an already over-taxed population. Keep increases reasonable. That being said, I am fairly satisfied with the current tax structure. I only mentioned this as a "top ten topic" since I DON'T want to see any major change (higher or lower) in the current taxation process.