Taxes!!!! OMG

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Gaelic

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#1
Apr 15, 2008
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#1
We got our tax notice from our bank today, since they remit our property taxes. Ours are going up over $400. PER MONTH. We have only lived here a year. We knew there would be an increase - our house has doubled in value - but our taxes seem to have tripled?

Any option on any recourse? I work full time, but we are both going to have to get part time jobs on top of that to pay for this!!!!! We are absolutely shocked.
 
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suesue

Registered User
#2
Jul 6, 2008
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wow...thats crazy!

we live in east hamillton & we pay about $150- a month.
(& i thought THAT was alot) ;-(

are your neighbours paying the same or is it just you?
 
scotto

scotto

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#3
Feb 15, 2004
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#3
$400 a month is insane,(that's like two mortgage payments) you can apply to MPAC for reduction, but good luck. You must live on the lakeside?
 
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Gaelic

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#5
Apr 15, 2008
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Welllll. After panicking and fretting (considering selling a kidney)....we are thinking the bank has made an error. We pulled up our 2009 final tax bill and the amount we have paid the bank is CORRECT. Whew.

At least according to the City of Hamilton ;)

But the bank (who remits our payments for us - perhaps a bad idea?) says we have paid XXX (what the final tax bill says) but we owe another $3400 deficit - and they are going to start taking the payments in September :( Now, if the City of Hamilton says what we have paid is sufficient, I am prone to believe them. What the bank is up to, I have no idea. Hubby is calling them tomorrow to figure out what is up.

We knew, when we purchased, that our taxes would go up - our assessment hasn't been done since who knows and in the fall we did get notice it had gone up in value quite a bit. But to more than triple our payments? THAT'S NUTS!!!! Plus, we were told the increase would be phased in, no?

And Scotto - no - I do NOT live on the Lakeside. Sheesh. And you know what? For the money we pay, we don't get a whole damn lot. Our street is rarely plowed (husband always gets out there first with the snowblower), the lower end floods every freaking time it rains, and I have neighbours who consider it acceptable to put many cars up on blocks and fill their yards with garbage hence a rat problem. NICE.

Sorry I'm a bit shellshocked tonight ;)
 
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darkangel

Registered User
#6
Jan 23, 2006
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#6
I grew up on the beach from 1966-1988, my parents bought our 5bedroom house for $11,000. mortage at $81.00 a month taxes next to nothing, I cant believe on how much the value of the homes are now, expecially if your on the lake ....almost have me thinking that the hubby and I should invest into the beach strip !!!
I remember back in the early 80's the city was buying up houses for approx. $10,000.00 a house, We moved out of the country awhile back and I am glad there are NO TAXES where we live !!!
I must say I do have empathy for you tax payer !! cheers
 
scotto

scotto

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#7
Feb 15, 2004
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#7
Didn't everyone receive an assessment last summer? Many residents complianed of huge increases in the value of their home, I guess it's good if you are selling, but most want to stay. One resident told me his assessment went up by 240k.:shocked:

Gaelic; It must be a bank miscalculation, let us know, but you should be paying around the same as me and I can't afford the lakeside sticker price or the taxes.(BTW, I have always had my taxes done by the bank as well and never had a problem)
Also, isn't that new pumping station going in on your street? Should get rid of the rainwater problem.

Darkangle; Should of kept that house, look what it would of been worth now.
 
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Gaelic

Registered User
#8
Apr 15, 2008
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#8
Yes, new pumping station, whenever THAT happens lol. Hubby has figured it out. Bank miscalculated our taxes when they processed our mortgage. They went by ONE tax bill when calculating our payment, not two, so we have underpaid for a year. So now they want $3500, pronto. :( :( :(

Our taxes for the year are now $3590...for the bayside....That, by the way, is about $1000 more than what the realtor quoted. Don't get me started :(

Now I am terrified by our new assessment - our tax bill is rated at $70,000 less than the new assessed value :( We want to stay, we bought this house to renovate and fix up and be happy here. And I HATE moving. But the prices of all these new super homes and custom what have you's are driving up the taxes of the little homes, as well :(
 
scotto

scotto

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#9
Feb 15, 2004
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#9
Gaelic; You Realor must been going by others are paying, because I do pay about 1000 less than you. You can go online and check what home owners are paying, check around maybe you have do reason to pay less, or you will just make mine higher(lol).
As for the new homes, they built one at the top of the corner, no real front yard, no back yard and that is driving our tax rate up. But the owners seem to have lost it to the bank. So they built something they couldn't afford and now we all have to pay as well.
 
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Gaelic

Registered User
#11
Apr 15, 2008
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#11
Scotto - I think I know which house you are speaking of. It's been for sale for a very long time - it was up for sale when we bought ours.

Well - interesting that we pay a substantial amount more than you do! Our house is little, but does have a basement, maybe that's why....hmmm.

Where do I go online to check these things out? I'm so new at this. Thank you for the help!

As for the pumping station - we thought they were just being strange when they cut the trees down - they hid the wall at the end of the street so it didn't look so much like we lived next to a highway, now it does :( Oh well, I'd rather that than the flood the poor people at the end of the road have to put up with!
 
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