Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Fought and Won vs City of Calgary Tax Assessment

bizaro86

0
Registered
Joined
Jan 29, 2008
Messages
1,025
We recently appealed a property tax assessment on a condo we bought last year, and succeeded, with the assessment reduced ~80,000. The process wasn't especially difficult (although in fairness my unbelievably competent wife went to the hearing!) and it adds ~450 to the yearly cashflow of this property, which is a great return on a couple of hours time.



Very exciting to be adding value to our portfolio's cashflow in a very real way without having to do renovations!



Michael
 
R

RussellWestcott

Guest
Guest
Great work!



Plus this savings can be a multi-year savings for you, as typically the new assessed value will stay at the new 'norm' for years to come.



Great reminder for everyone to appeal your assessments.. if you have grounds for your appeal.



What special surprise are you going to give to your wife for being an integral part of the business?
 

Emil1753

Inspired Forum Member
Registered
Joined
Oct 11, 2009
Messages
72
Bravo Michael. Good job.



I too got a reduced tax for this year due to an argument about a house I own in Vaughan.

They appraised it at $765,000 and I sent them an appeal with comps in the $600,000 range.

I annoyed them quite a bit and I might have been lucky because my case worker was a sweet lady.

They eventually agreed and reduced it over $1000 per year on my property tax.



I'll admit I even got a tad greedy and tried to argue that they should pay me back for all the years i've paid excessively higher property tax. They weren't buying that argument and basically told me to jump in a lake for my already paid tax. They wouldn't refund anything.



Regardless I was content.



Doesn't hurt to try. Doesn't cost a cent and you could do it online or via fax. Even if you don't win your case

, worst case scenario, the city basically gives you a FREE appraisal on your property. SWEET!



Emil Joseph.
 

bizaro86

0
Registered
Joined
Jan 29, 2008
Messages
1,025
[quote user=RussellWestcott]What special surprise are you going to give to your wife for being an integral part of your business?



It's definitely "our" business, as opposed to my business. (Which is maybe how you mean "your," interesting that English, unlike say Spanish, doesn't have a plural second person pronoun) I'm just the one that finds time to spend here!



We had a very nice celebration dinner afterwards, since it's important to celebrate even the little milestones.



[quote user=RussellWestcott]Plus this savings can be a multi-year savings for you, as typically the new assessed value will stay at the new 'norm' for years to come.



Hopefully. If not they'll see us back again next year!



Regards,



Michael
 

bizaro86

0
Registered
Joined
Jan 29, 2008
Messages
1,025
[quote user=TrueCashFlow]Doesn't hurt to try. Doesn't cost a cent and you could do it online or via fax. Even if you don't win your case

, worst case scenario, the city basically gives you a FREE appraisal on your property. SWEET!





Congratulations on your win! Here in Calgary, the city charges a $30 fee when you appeal, I suppose to try and deter people who don't have an argument from wasting their time. However, if you win the hearing you get the fee refunded. That's the most excited I've ever been cashing a $30 cheque!



Michael
 
R

RussellWestcott

Guest
Guest
Ah yes the English language... I have never been much of a writer, thank goodness for surrounding myself with very smart people who are always willing to help.



Have changed to "an integral part of the business". Being from Saskatchewan, I always lean towards the 'simple' works :).



Bottom line $30 investment $450 return...



Now we can spark the debate of how to measure the ROI.



And now that I re-look at it, you got your original $30 back... so I guess you are looking at an infinite return on your capital, and a high ROT (Return on your time)
 

bizaro86

0
Registered
Joined
Jan 29, 2008
Messages
1,025
[quote user=RussellWestcott]Ah yes the English language... I have never been much of a writer, thank goodness for surrounding myself with very smart people who are always willing to help.



I think it was correct the way you had it, it's just that the intricacies of the English language allow it to have either meaning, and the internet doesn't really allow for non-verbal cues. I've always enjoyed reading your work, so please don't take that as a criticism. I meant it as a commentary on the foibles of English not on your writing.



Regards,



Michael
 
Top Bottom