Hello All:
I am quite convinced that us property owners living in the Greater Toronto Area are paying a comparatively high rate of property tax. I live in Brampton and pay 1.2% of the assessed value. Roughly 80% of the 1.2% goes to the city and region (Peel)split equally and the remaining 20% goes to the province for education funding.
How does this compare with your region? I am especially interested to hear from Edmonton and Calgary.
Right On!
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Here in Newmarket, Ontario, I paid 1.111% in 2009. 0.477 to York Region, 0.241% to the York Region School Board, and 0.393 to the Town.
ReplyDeleteHowever, I don't think you can necessarily compare the rates from one place to the next and get a fair comparison. Some towns have higher real estate prices than others, yet the cost of the services provided to the residents are not necessarily related. Take two towns that have an equal cost of services, but one has double the average home prices of the other, well, they clearly can't charge the same roll rate and both take in the needed amount of total taxes. From a pure mathematical perspective, towns with lower home prices should have a higher tax rate than those with higher prices. All that said, I don't like the system we have, allocating charges for municipal services simply based on the relative value of our homes.
I know you want city comparisons, but I have a house on country lot in Huron County....taxes are 1.5% of appraised value....no municipal services
ReplyDeleteThe property tax system in Alberta is based on market value with commercial and industrial properties usually being taxed at a higher mil rate.
ReplyDeleteTherefore, the more commercial/industrial properties a municipality has, the lower (usually) the residential property taxes.
That is why you find residences in small towns often paying higher property taxes on a comparable house than those in big cities - the municipality still has to raise the money to cover the budget and if there are no commercial/industrial properties, the money must come from the houses.
Market Value differs from municipality to municipality, however it is a simple calculation of the amount the municipality needs to operate to the total assessment to get the mil rate which is then applied to each property.
So it isn't as simple as comparing one town to another - it also has to take into consideration what that town is paying for, are there commercial/industrial properties that are contributing to the "pot" as well as the # of properties taxed and the market value of those properties.
An assessment and ultimately tax should be fair and equitable when compared to other similar properties within YOUR municipality. You really cannot compare your municipality with others due to the number of factors noted above.