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Re: Forum gossip thread by James Bond

Something is fishy with my BC Assessment numbers...

Started by Anonymous, January 04, 2020, 10:41:38 PM

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Anonymous

Quote from: "Fashionista"
How many square feet is your home?

Around 2,800 square feet if you include basement.

Anonymous

Quote from: "kiebers"Our property taxes are based on a county appraised value (not market value) of the combined value of the land and improvements. I would love to have my houses values to be 50,000 less each than they are. Save me easily two grand plus every year. Of course I am speaking about Texas.

Old Herman would be a happy frickin camper if the rural MD assessed my farm below market value.

Anonymous

Quote from: "Herman"
Old Herman would be a happy frickin camper if the rural MD assessed my farm below market value.

If it's a working farm your property should be tax exempt, no?  My neighbour pays no property tax because it's a working farm, although I do believe he does the minimum to keep it qualified as such...

Anonymous

Quote from: "Mel"
Quote from: "Herman"
Old Herman would be a happy frickin camper if the rural MD assessed my farm below market value.

If it's a working farm your property should be tax exempt, no?  My neighbour pays no property tax because it's a working farm, although I do believe he does the minimum to keep it qualified as such...

The way the farmland, house, and outbuildings are used and assessed will obviously have a big impact on a farmer's property tax bill.



The residence on the farmland is assessed based on how much it would cost to rebuild the farm house, taking into consideration the location, size, age, and quality of construction.

 

If the residence is occupied by the person or persons farming the property, a one-acre parcel of land is valued as farmland. If the house is rented out to someone other than the owner of the farm, it's assessed as residential land.

 

The way the farmland, house, and outbuildings are used and assessed will obviously have a big impact on a farmer's property tax bill.



For example, if a barn/quonset is used for housing livestock, both it and the land underneath will be taxed at the farm rate.



If that same barn is used for value-added activities (changing a raw agricultural product into something new) to process something produced by the farmer, the barn and land will be assessed and taxed at the higher industrial rate.

Anonymous

I'm guessing BC has similar rules.



I knew a guy that set up a Christmas tree farm in the back of his acreage.  At first I didn't understand why he would do this, as he had a very decent paying job with the city already.  Well, with the size of his property (was around five acres) all he has to do is sell $2,500 worth of Christmas trees every year, and it's considered a working farm.  Next to no property tax!

kiebers

Quote from: "Shen Li"
Quote from: "kiebers"Our property taxes are based on a county appraised value (not market value) of the combined value of the land and improvements. I would love to have my houses values to be 50,000 less each than they are. Save me easily two grand plus every year. Of course I am speaking about Texas.

Two grand tax on $50k???

Two houses so a total of two grand for $100k.

Hell it used to be three houses till Hurricane Ike.
I've learned that if someone asks you a really stupid question and you reply by telling them what time it is, they'll leave you alone

Anonymous

I don't even know what my property tax rate is here at new house.  It's in an unincorporated rural area, so I have no clue and can't find much online...



I guess I'll find out soon enough when I get the bill in the mail.

Anonymous

Quote from: "kiebers"
Quote from: "Shen Li"
Quote from: "kiebers"Our property taxes are based on a county appraised value (not market value) of the combined value of the land and improvements. I would love to have my houses values to be 50,000 less each than they are. Save me easily two grand plus every year. Of course I am speaking about Texas.

Two grand tax on $50k???

Two houses so a total of two grand for $100k.

Hell it used to be three houses till Hurricane Ike.

Two grand on a $100,000 in value, is slightly high. However, we are catching up.

Anonymous

Their tax rates will be different, since their homes are much cheaper.

Anonymous

Quote from: "Mel"Their tax rates will be different, since their homes are much cheaper.

I've been to Houston many times for work. RE is cheaper there, but they are catching up.

Anonymous

They are nowhere even close to BC.



I found a property in Iowa Park, TX.  I chose that town because it is an almost all White smaller town, similar to where I live here.  I found a property & house that was fairly similar to mine.



Estimated value of Iowa Park property: $154,700 USD.  Assessed value of my property:  $465,000 CDN.  It was worth $500,000 CDN last year, but BC assessment will have to explain why.



With even with exchange rate calculated in, similar Texas property would cost me almost 1/3 of what I pay here.

Anonymous

Iowa Park, TX is still 96% White.  I wonder how they managed that?



If I had dual citizenship, I'd get vastly better bang for my buck in Iowa Park.  Don't have to shovel snow either...

Anonymous

Quote from: "Mel"Many just fly back when they need 'free' healthcare...

Apparently birth tourist mothers are prioritized at Richmond hospital because doctors can charge non residents 4-5 times what they bill for residents.

Anonymous

Quote from: "Fashionista"Apparently birth tourist mothers are prioritized at Richmond hospital because doctors can charge non residents 4-5 times what they bill for residents.

The problem with this model is, is that none of that money goes back into the hospital.  So the hospital itself, and all the support staff, have to take on even more work load.



Anyone that has been to any hospital anywhere near Vancouver, will see just who is filling up the waiting rooms...

Anonymous

North America is the only place that still permits this.  All other Western nations have restrictions in place.

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