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By myrcurial (registered) - website | Posted January 26, 2015 at 11:51:15 in reply to Comment 108393
I agree it would be interesting, but that drives right down into the 'economic status = right to preferential treatment' -- I think as a city, it is incumbent upon us to treat all issues as a "one resident = one right" -- that I live in Ward 4 (and used to live in Ward 3) and choose to live in a house with a lower assessed value than the average in Dundas, does that increase or reduce my right to representation?
Also, in absolute terms, I doubt that the increased average assessment in Dundas is four times that of the average assessment of Wards 1-9. Remember, area rating is a twin-bladed sword - If a Dundas person pays $1 in HSR Area Rated Property Tax, as a Ward 4 resident, I've paid $4.17.
There's not a quick-to-find resource for assessments, but we can use average home sales price as a yard-stick (see this image from Hamiltonhomes-for-sale.com -- http://www.hamiltonhomes-for-sale.com/ac... and this article for the price in Dundas: http://www.hamiltonhomes-for-sale.com/Du...
We'll pick on the examples of Dundas and where I live in Homeside (Kenilworth & Main)
Average Sale Price - Dundas: $355,891 Average Sale Price - Homeside: $172,593
Looks like the average price here is a little less than half that of Dundas - 48.5%
Logically, this means that the Dundas average homeowner pays (in absolute dollars) about twice what I do.
And that also means that for every $1 I contribute to the HSR, the Dundas resident - taking into account the higher assessment - pays $0.48.
So in absolute terms, they don't pay more than I do, not even close. But they do pay for about as much service as they get...
But, if you run the numbers for Wards 1-9 to get the average home price for people who pay 100% of the HSR tax assessment?
Wards 1-9 Average Sale Price: $233,792
That's 65.7% of the average in Dundas.
And again, for each $1 in HSR directed tax paid (in absolute terms) by a resident of Wards 1-9, the Dundas resident (with higher assessment) in absolute terms pays about $0.34
As I said in my post, Area Rating really changes how we should view some of these decisions.
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