Property Taxes and Assessment
by Jason Fredin
It amazes me how many people think that reassessment is a goldmine for the city.
It is not.
The city reduces the tax rate every year to counteract the reassessment of the average existing properties.
Unless you remember politicians boasting about our 10.4% decrease in property taxes since 2007, I would say that idea is busted.
Still wondering how the city calculates your taxes? Sandy Levin has a good write up over on the Emerging Leaders site that lays out the basics at http://www.emergingleaders.ca/muncipal-taxes-explained/.