Man this makes the unit I purchase at The Met 2 a steal! 300k 1bedroom with a parking@@ location is better too.

Krusty is at it again.....


http://i.cbc.ca/1.3607296.1464623104...-in-manila.jpg

Residential real estate sales not part of Asia Trade mission, says Christy Clark - British Columbia - CBC News


Google Nu Stream realty and you will see that they have been involved in some shady type dealings in the past with cash bonuses, etc.

Illegal?
Not really.

Unethical?
Yeah.....

Cash bonuses for B.C. real estate agents called into question | Vancouver Sun

U guys are just starting to feel the effect of 10 year super visa with china. prices are still very affordable compare to China.
Also recent changes to citizenship act they have just announced will mean even more people coming to live in vancouver. such as increasing family sponsorship immigration by 4 folds, reducing physical presence time in canada back down to 3 out of 5 years, and more easings to come
the message is clear, canada now needs immigration more than ever

Details and links please

Ours is a couple hundred more, but just a few bucks more than last year. Not sure what the problem is? You had the option to cash out last year, and good thing you didnt though

Same in Burnaby....on a duplex... oh well Its worth over 1 mill so .. is what it is.:)

Are you sure it's "only" $3000?

I got mine yesterday as well, and the amount I have to pay is $3k+. However, I already pre-paid $2k+ some time earlier -- I don't even remember when. So the grand total for my 2016 property tax is a bloody $5k+.
:fuuuuu:

The regular home owners grants is also a fxxking joke as well. I was so mad last night when I got the property tax notice that I didn't really remember the numbers too well, but the regular grant was quite minuscule. I could very well be wrong, but I think even the senior discounted home owner grant was only some $300.

And if your property is assessed at over $1,314,000, you don't even qualify for the home owner grant! Even a dump in Vancouver is worth more than that. :flamemad:

This is true compared to the larger cities in China.

Just checked -- the regular home owner grant is a measly $36. A frickin $36. Thanks for nothing!
:fuuuuu:

For what it is worth, the senior home owner grant is $311 for my place. Again, :fuuuuu:

Did you buy your place over the last year? If so you would paid back the property taxes already paid by the person you bought it from which would be for the current year not the new one you just got the bill for.

I don't know what your place is worth but $5,000+ seems really high.

Other than some short stints here and there, I've been living at the same place for the past 25+ years. It's just a common bungalow in East Van.

Compared to the 2015 assessment, the 2016 assessed value suddenly jumped a whopping 27%. Compared to the 2014 assessment, the 2015 assessment only increased by 8%.

At this rate, I wouldn't be able to fxxking afford to live in the same house that I grew up in. It is obvious that those in charge at the provincial government does not value the long time residents in Metro Vancouver, and is doing everything they can to push us out and make us leave.

:fuuuuu:

on the other hand, your house is probably worth substantially more than the assesment

Your assessment will never be similar to the market and the reason behind it is because it only takes a snapshot during one point in time. With the fast up rise of the housing market, the upward trend cannot be represented in the assessment value.

Before, with a more stable market, you can estimate market value by putting an approximate, like 10 or 15% above assessed value. Now? Good luck guessing that percentage!

You mean until the market stabilizes and assessed = current market value?

Assessed value is a year behind current market value.

Assessed values are only one part of the equation when it comes to property taxes. The mill rate is the other part of the equation.

An 27% increase in assessed values does not mean a 27% increase in property taxes. Your property taxes will of course increase, but the amount depends on how much your property value increased relative to other properties in your municipality.

You should also look at your municipal budget. Cities get a fiscal transfer from the province, but municipal governments are responsible for balancing their own budgets. I'm not a BC Liberal apologist by any means, but if you're concerned about your property tax bill, your displeasure is probably better directed at your city councillors/mayor.

Yea that's what i meant lol 4Head

Maybe you can do this?? hehe
Defer Your Taxes - Province of British Columbia
:devil:

LOL~

Deferring doesn't change the fact that I'd still have to pay, and from the look of it, there'll (of course) be interest on top as well.

This high property tax problem can't possibly be unique to me though. How are you guys dealing with it? Just bite the bullet and live with it?

...

My property taxes increased 10% from last year, you live in a different city but the increases your seeing don't seem right you might want to call.

The assessed value of the home isn't the only factor in determining what your taxes are, property taxes and assessed value do not move together on a scale.

This could have huge implications for Vancouver's and Toronto's housing market. The major banks already have their exposure to risk minimized with the CHMC covering mortgage insurance and for them to come out and say this is a little troubling.

As well, before people start harping that foreign investors are paying in cash, they're not. Most are using mortgages since rates are so low.

My wife is incharge of paying the property tax. I just give her the money, but IIRC, Burnaby seperates the property tax into 2 parts whereas COV does it as one.
So Burnaby's $3000 property tax doesn't include the second part.

If you're living in a bungalow and your parents are seniors, why don't they defer? They can defer in perpetuity (i.e. when they decide to sell or they die) and the interest rate is 0.7% per year which is nothing. If your family plans to keep the home until they die, then any estate sale will take care of the property taxes owing at that time. Or you can simply assume the title if they are willing the house to you and roll the taxes owing at that time into a new mortgage.

You can then direct that money you would have spent on property taxes and invest it in whatever you like and get triple the return in a conservative bond ETF or something similar.

COV does 2. One bill for the first 50% of taxes (estimated) due in Feb with the remaining amount on a 2nd bill due in July.