Yowza!

[rivet]

In plowing through the backlog of mail, etc on my desk the other day, I looked at the new valuation of my house for tax purposes, as of September 2009. It's dropped by $20K since 2007. Glad I'm not needing to sell it at the moment! The upshot of that is that my rates will presumably go down.

Comments

Valuation and rates

[edm]

Or at least your rates will go up less. IIRC they're proposing about a 3.8% rating increase; and the changes in house values really only change the share of rates not the total amount. (My property ended up with the same total value as 2007, due to compensating increase in land value and decrease in improvements value. I'm interested that inner city has apparently gone down.)

Ewen

Re: Valuation and rates

[vernacularity]

yep i believe the official word is that no your rates will not go down. everyone's complaining about it, but the stance is that property valuations are used as a baseline comparative measure, i think. if your property had gone down relative to others in your neighbourhood then it might be a "good" thing. but everyone has gone down.