Assessments are in

[Wyatt Earp]

Well, either something is wrong with this picture or my 2.5% increase to my assessment surely means that the selling price "should" be more than that, shouldn't it?

I've always though that it was between 20 and 30% more for a street value (resale value) over the assessment but seeing what things are selling for in my area, this can't be true at all. In fact I wonder what the nnumber would be? Scary really.

[awesomeshopper]

FYI.....anyone out there happy to see another increase? Think again. If you own a home and your property taxes are going up yet another year, stand up for yourself and fight your rate increase. Assessment of homes in the early days say 5 6 years ago were based on 20% less than what you could sell your home in the going real estate market. Now the assessments are higher than you can sell your home for. The assessments are so out to lunch now that banks aren't even interested in looking at your assessments anymore to see the true value of the home. It doesn't take much to fight your assessment and remember every year you don't fight is another increase year.....Even if you win your fight which I did, they will never reduce it to the previous years assessement. They dropped 80,000 over a 107,000 increase. My assessement right now is over 120,000 to what I could sell my home for in todays market.......I will argue my assessments every year now its not that hard at all.

[tailtwister]

I've talked to 3 people in the north end who ended up exactly at where they were at for 2010.

[Wyatt Earp]

I understand that the tax rates are different depending on RDN or City but I just can't see how my assessed rate is almost equal to what I can sell it for. Scary really. I don't know if my taxes will increase as a result but I'm sure they will.

[Flugel Horn]

For me and my north-Nanaimo condo apartment, the assessment is up 9.4% from the prior year. I'll pay some more taxes this year...

[BigMac]

I'm in Cinnabar. Approx 5% increase!!

[Matt Scheibel]

We have a great post on our blog about the City of Nanaimo's new tax estimator if you're wondering what your taxes will be for 2011. You only need to enter you tax assessment from 2010 and 2011 and it'll give you an estimate of what the taxes will be for this upcoming year.

Here's the link:

http://www.mattanddoug.com/Blog.php/...property-taxes
Enjoy!

Matt Scheibel
email: matt@mattanddoug.com
phone: 1.800.779.4966

Coast Realty Group
4200 N Island Highway
Nanaimo, BC
V9T 1W6


Website: www.mattanddoug.com
Blog: NanaimoRealEstate.com

[Alaxender]

I have checked the blog which has tax estimator related to different provinces.
It is useful for computation of taxable income and hence evaluating the amount of tax.
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[Flugel Horn]

I've received my 2011 City of Nanaimo tax notice for my home.

- comparing gross-taxes (before HOG) from 2010 to 2011, I have a 6.2% decrease in my taxes for 2011. I'm happy.