Comment 36747

By JonC (registered) | Posted January 03, 2010 at 23:22:54

I'm aware of the MPAC dates, if you recall there was an inordinate amount of outrage at the one two years ago. That is because they actually did a really serious overhaul bringing assessed values much closer in line with market values than they ever had been previously.
http://www.mpac.on.ca/pages_english/pdf/...

"In contrast, if another area of the city makes less improvements to their homes, market sales prices will be lower and this will reduce assessed values. "

Key word is area. If I redo the kitchen, it won't matter when the 2011 mpac assessment is done. It will only matter to my neighbours if I sell my home. In fact it's the exact opposite of your conception of reality. If I let my house fall apart while my neighbours flourish, the value of my home and taxes will increase even though I've chosen to live in squalor. When you've read thousands of appraisals you can get back to me about comparative appraised valuations.

Also, even if you knew what you were talking about, "why should people that allow their homes to get run down and sell for lower market prices be rewarded with lower tax bills?" This is not a reward. You would need to lose 10k of value to get a tax break of about $150 a year. What a deal!!!! Tear my roof off now. No wait, tear my neighbours' roofs off.

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