It looks like at the end of June 2006 those who assessed the market for downtown property did not take new gaming facility into consideration.

I wonder what has happend to assessed values where the real commercial action has been? And how about the industrial sections of town? If we wish to draw industry or even just keep industry here, is that not important?

;-)

I guess thats the price of progress. An improved economy is always going to lead to higher taxes.
Maybe they can strike a committee to examine why the taxes had to go up, and the committee can travel to winter cities in the Orient and Scandinavia and England to see how those people were able to do it. You know, like 'we' did for how to build a public structure (Unbc) and for how to clear the streets of snow, and for,
and for,
Just kidding.
metalman.

Here we go again........... this is about assessment, not taxes ....

Tabor plaza increased 6.3%

Massey Square plaza increased 1.4%

A light indutrial building on continental way increased 3.1%

highrises on victoria increased about 5%

an open george st restaurant increased 2.6%

an industrial building east of Queensway on 3rd increased 13%

Higher priced housing increased less percentage wise than lower priced housing ....

The mil range will change to get some equity I would think. That is typically what is done ...

If not, then businesses would pay proportionately less compared to residential than they did before ...

However, since residential is one mill rate grouping, those living in lower cost housing will pay proportionately more this year than those living in higher priced housing.

In fact, depending on the total tax increase, it is quite possible that those in higher priced housing will see no change or an actual total tax reduction, while those who are in less expensive houses, specially in the bowl and college heights, will pay more.

If your assessment is up or down it won't matter. The mill rate will be tweeked so that you can bet your last dollar (before taxes) that you will pay more property tax this year. Probably for less service also. Life goes on.

camoose .... your bet is on..... !!!

to win, all I have to do is find one person or one company who will be paying less ... and that will be easy ....

So, $1,000 ???? or higher????

Owl, is that bucks or dollhairs? lol I got out of many a bet that way.

Euros if you want ... we can up it by another 0 too .... €10,000 .... I just don't want to sucker any innocent people in ... :-)

The Vancouver Sun's article on the provincial assessment actually explains the consequence to resulting property tax changes quite nicely.

---------

"The dramatic rise in assessments makes setting tax rates a challenge for municipalities, which use the assessed value of property to set property tax rates.

He added that typically when there are large assessment increases, municipal governments will reduce rates by the average increase for each property class.

So, as long as a property owner's assessment increase falls within the average, he shouldn't pay a tax increase that is any larger than the general tax increase his city or town levies with its 2007 budget.

However, property owners whose assessments increase by more than the average will see their taxes go up.

OWNERS WHOSE ASSESSMENTS RISE BY LESS THAN THE AVERAGE FOR THEIR CLASS WILL SEE TAX CUTS."

http://www.canada.com/vancouversun/news/story.html?id=51d7f323-4cc1-4b2d-81d5-d9edfa4c8516&k=1413

I'm not sure how many caught the following comments from the mayor in the lcoal newspaper:

'"(It means) people have more equity in their lives' largest purchase," Kinsley said and predicted the momentum will continue through next year and WILL ALLOW PEOPLE TO ACCESS MORE CAPITAL for improvements to their homes and for business ventures.'

Promotion of further debt is not something I feel is appropriate. I look upon this rise in assessment as a reduction in risk. It gives me a bit more comfort than I had last year and the year before. I know just as well that it could, drop again in the next few years. It has done so twice in the last 30 years.