Tuesday, May 12, 2009

Law of Unexpected Consequences

2 properties side by side with identical land values but with different improvements (House Values) Who would you expect to pay the higher municipal increase both in $ increase and %age Increase? (All figures from City of Vernon Tax Calculator.)

By the way if you add $100,000 to the improvements of the higher price property the $amount of municipal tax increase this year will decrease to $18.86 and %age increase will be 1.8%. Adding $200,000 would decrease the amount of municipal tax increase to a minus $16.08 and an percentage decrease for municipal taxes of minus 1.1%.

Vernon property valued at $347,000 (Land 204,000) (Improvements $143,000).
2008
2009
Difference
Change
Assessed Value 347,000
347,000
0
0.0%








Tax Levies






School $729.29
$742.68
$13.39
1.8%
Municipal $810.19
$874.82
$64.64
8.0%
Library $50.66
$54.17
$3.50
6.9%
Regional District $350.08
$333.27
$-16.81
-4.8%
BC Assessment $21.34
$22.24
$0.90
4.2%
MFA $0.07
$0.07
$0.00
0.0%
Hospital $61.94
$64.37
$2.43
3.9%
Estimated Tax Levy $2,023.57
$2,091.62
$68.05
3.4%

Vernon property valued at $378,000 (Land 204,000) (Improvements $174,000).

2008
2009
Difference
Change
Assessed Value 378,000
378,000
0
0.0%








Tax Levies






School $794.44
$809.03
$14.59
1.8%
Municipal $899.26
$953.07
$53.80
6.0%
Library $55.19
$59.01
$3.82
6.9%
Regional District $415.05
$397.16
$-17.89
-4.3%
BC Assessment $23.25
$24.23
$0.98
4.2%
MFA $0.08
$0.08
$0.00
0.0%
Hospital $67.47
$70.12
$2.65
3.9%
Estimated Tax Levy $2,254.74
$2,312.69
$57.95
2.6%

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