Monthly Archives: June 2009

Property Overassesed ? Realty Property Tax Appeal Services

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Cuyahoga County had its regular property assessment in 2006. Many of us homeowners in Cuyahoga County were not happy with new property taxes. The timing was not perfect, as property tax increase came along with sub-prime crisis, growth of foreclosure rate and market price adjustment of 2007. Many homeowners notice that assessed value is much higher than possible market value of their homes. There is a way to reduce your taxes if you file a complaint with Cuyahoga County before the end of the day of March 31, 2008. You may find all the forms and information about the procedure at the web site of Cuyahoga County Board of Revision http://bor.cuyahogacounty.us/.

As we get a lot of inquiries from our clients regarding the market condition in their neighborhoods, we in Local-n-Global Realty decided to offer our clients and friends free Market snapshot services. Please go to the front page of www.Local-n-Global.com and fill in the Evaluate your house form. You will receive the most up-to-date information about house listings and sales in your neighborhood. If you see that your house is over-assessed in comparison with the market value of the similar houses in your community, you may go ahead and ask the County Auditor for tax relief based on real market condition in your area. Please do not hesitate to use this service. It is accurate. It is free. We are here to help you.

We want our communities to prosper, our schools to get stronger, and our neighborhoods to be better. We are responsible tax payers. BUT – if there is any mistake in you

http://realtorsvetlana.wordpress.com/2008/01/10/homeowner-in-cuyahoga-county-is-your-property-over-assessed/

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New Latest Property Tax Liens

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own Collector Michelle L. Hill will file tax liens against 46 properties in an effort to guarantee that the town eventually collects more than $120,000 worth of back property taxes, fees, and penalties.

The liens were filed with the Hampden County registrar of deeds on Jan. 3, Hill said last week.

She had planned to file attachments to the deeds of 52 properties, but the owners either paid outstanding taxes or made arrangements for payment before Jan. 3, she said.

Hill published a list of property owners and the amounts owed last month.

The largest account is $9,835.07 owed by Roy and Fernande Wilfred at 32 Lakeview St.. Taxes on that property date back to 1997.

The smallest amount owed on the published list is $1.18 for a parcel on Cooley Road. It represents a balance on current property taxes.

Some of the 52 open tax accounts were approved for payments, but the owners failed to comply with the arrangements.

Hill has recovered just over $500,000 worth of outstanding taxes and fees since becoming town clerk and collector-treasurer in 2006. Last year, she filed tax liens on 25 parcels, and since July nine of the accounts have been paid.

Last August, the town received $180,000 worth of back taxes and fees on several parcels previously tagged for foreclosure. It represented taxes and fees dating back to 1992 on several building-type lots along Hillside Road, previously owned by Bruce W. Sikes.

Hill has said that the placement of liens is a process that guarantees Southwick will eventually receive property taxes owed before a property can be sold.

The Jan. 3 liens were filed against property owners Paula Bruno, with property on College Highway; Rebecca Burnell, for properties on Will Palmer and Hillside roads; Louis Casale, a Granville Road parcel; Rocco and Barbara Cianfarani, for several parcels on Cooley Road; Roy Circosta, Tannery Road; Cirillo Realty, Feeding Hills road; Merrill Clark, Mort Vining Road property; DT Enterprises, parcels on Stoneybrook; Frank Duncan, College Highway; Donald and Dorothy Elton, parcels on North Loomis Street; Anthony Grochowski, Southwick Hill property; William and Wendy Hauser, two parcels on North Lake Road; William and Keith Howard, Pineywood Road parcel; JP Builders Inc., a parcel on Sunnyside Road; Joseph Priscilla, Granville Road; Michelle Leblanc, Fernwood Road; Lexington Circle Development Inc., parcel on Lexington Circle; James Oleksak, at Sam West Road; Steven Palazzi, Hunters Ridge Circle parcel; Patriot Woods Home Owners Association, Lexington Circle; Mark Poulin, property on Klaus Anderson Road; Bradley Quirk, parcel on Congamond

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Delay Wpg Inner City Housing Legislation – Lost City Winnipeg Tax Revenues Base

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DOWNTOWN revitalization projects could be put on hold as provincial politicians head to the cottage instead of getting down to the nitty-gritty of approving a bill that can be used to spruce up blighted areas.

Inner-City Dreams : Salvationist.ca | The Salvation Army – When I was asked to write about the inner city, one of 10 Canadian people groups under-reached by the Gospel, I found it difficult to identify inner-city residents as a people group unto themselves. … In Vancouver we would probably think of Main and Hastings; in Winnipeg, Main Street; in Edmonton, 97th Street; in Toronto, take your pick of Jane and Finch, Parkdale, St. James Town or Regent Park. However, all of these Canadian inner-city communities are vastly different. …

With the spring legislative session to wrap up Thursday, a piece of legislation touted to be vital to rebuilding inner-city Winnipeg won’t be passed — it’s being held over until the fall for possible tinkering by the Doer government and the Opposition Tories.

Transcona Coun. Russ Wyatt said the delay in passing the tax-increment financing (TIF) bill means the city won’t be in a position to take advantage of the summer construction season. According to city staff, 300 new residential units that could have been developed downtown this summer are likely on hold until next year, when provincial tax credits are in place.

“I’m extremely disappointed with both Her Majesty’s loyal opposition and the government,” Wyatt said. “I know it’s nice to go on holidays a few weeks early, but I think this is far more important than going to the lake.”

The city introduced its multi-family and mixed-use tax credit in 2007 to offer up to $20,000 worth of property tax credits per unit for residential projects in the inner city and selected older neighbourhoods. Provincial TIF legislation could have doubled the potential tax credits to $40,000 per unit — enough to make marginal revitalization projects viable, Wyatt said.

Inner City Housing – This evidence along with support for the programs from the community and advocacy from Jenny Gerbasi and other inner city Councillors, has resulted in Council agreeing to continue to fund the City’s portion of the program which has …

“It would have closed the gap and got the ball rolling,” he said.

The 300 new units also would have placed a dent in the city’s housing shortage, which realtors and social activists describe as a crisis. Residential vacancy in Winnipeg hovers at approximately one per cent. TIF was announced by the Doer government a year ago to create special zones or parcels of land in the city, where developers could receive upfront financial help with the added costs of building or renovating in neglected neighbourhoods. A TIF zone diverts increased property and education taxes from reassessments on any new additions or redevelopments into a separate account. That money is used to pay for grants to developers for further improvements in the zone.

But the Tory Opposition immediately demanded the government put the brakes on it, saying it could evolve into a slush fund for NDP pet projects. Tory Leader Hugh McFadyen said he wanted the TIF bill rejigged so it can only be used only for specific urban renewal projects.

Another worry of the Tories is the possible impact on school funding and what any shortage could mean in increased school taxes.

The TIF bill was put on hold along with several other bills under an agreement between the NDP and Tories to see the spring sitting end Thursday with the most important bills being passed. Under the agreement, it is scheduled to be passed Oct. 8.

 

What is a TIF?

Tax-increment financing is an economic tool cities can use to kick-start the revitalization of rundown neighbourhoods.

How does it work?

Owners of properties in blighted areas have no incentive to fix up their properties because they get hit with higher property assessments — and higher taxes — if they improve those properties. Tax-increment financing allows any new taxes that result from improvements to flow into a fund to improve the same neighbourhood — or even flow back to the property owners as tax rebates.

What’s in place right now?

In 2007, the city created a multi-family and mixed-use tax credit that more or less functions like a TIF. Developers of residential apartments, condos or mixed residential/commercial buildings in downtown Winnipeg and designated older areas are eligible for property tax credits of up to $20,000 per unit, over 10 years. This helps bridge the gap between the cost of redevelopment and the potential profit.

What’s coming?

http://www.winnipegfreepress.com/local/wyatt-in-tiff-over-bills-delay-47297242.html

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Lets Hope You Get Similar Breaks on Your City of Winnipeg Proprerty Tax Assessment in 2009

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The Winnipeg Blue Bombers’ new home will get the same property-tax break enjoyed by the football club for the past nine years at Canad Inns Stadium, thanks to new provincial legislation.

Fighting for Taxpayers: New Winnipeg Stadium – It looks like the Bombers will have a new stadium in Winnipeg on the University of Manitoba Campus. Here’s what we had to say about it. Our comments also appeared in the Canadian Press and on TSN.ca. So, what will David Asper pay for …

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A budget-implementation bill heading through the Manitoba legislature today includes a provision to allow the Winnipeg Football Club’s future home at the University of Manitoba to be exempt from municipal property taxes, except for retail stores and restaurants that will operate all year within the new stadium.

Since 2000, when the city, province and the former Winnipeg Enterprises Corp. oversaw a bailout plan for the then-struggling Canadian Football League club, Winnipeg has waived the team’s property-tax bill at what’s now called Canad Inns Stadium.

The club’s new home at the U of M, which will be built by future ball club owner David Asper’s Creswin Properties but owned by a new non-profit corporation called the Winnipeg Football Club Stakeholders, will receive the same tax exemption, which is one of the city’s main contributions to the $135-million project supported by $20 million from the province and $15 million from Ottawa.

While Winnipeg is not contributing any cash to the stadium or the associated improvements to the U of M’s athletic amenities, the city plans to sell Creswin the valuable commercial land at the existing Canad Inns site at full market value. Creswin will then use proceeds from its future development at Polo Park to finance the Winnipeg Football Club’s operations.

Mayor Sam Katz has always been adamant the Bombers’ new stadium would not receive a penny more from the city, given the fact the club has enjoyed a tax holiday, concession and parking revenue and proceeds from entertainment taxes at Canad Inns Stadium for almost a decade.

As a result, the budget bill heading through the legislature amounts to housekeeping, provincial Finance Minister Greg Selinger suggested Wednesday.

“The stadium, I think, is perceived as an asset that benefits all Manitoba by building it,” Selinger said.

Despite the city’s long-held position, which predates the selection of the University of Manitoba as the stadium site, the Canadian Taxpayers Federation contends the tax break for the new stadium was not sufficiently publicized. Manitoba director Colin Craig criticized all three levels of government on Wednesday for not being more clear about the property-tax exemption when federal and provincial funding for the stadium project was confirmed in April.

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Construction on the new stadium may begin this fall, when Creswin hopes to begin clearing land at the northwest corner of Chancellor Matheson Road and University Crescent. Creswin is also in the midst of lease negotiations for the future commercial development at Polo Park, whose success or failure will determine the viability of the entire stadium project.

“Things are progressing very positively at the Polo Park site,” said Creswin spokeswoman Barb Biggar, adding the identity of the tenants will not be revealed until leases are signed.

The retail stores at the new stadium will include a Bomber and Bison store, as well as restaurants, she added.

bartley.kives@freepress.mb.ca matt.preprost@freepress.mb.ca

 

 

 

EVERYTHING you wanted to know about the Bombers’ future home…

Cost: $135 million

Developer: David Asper’s Creswin Properties

Ottawa’s contribution: $15 million for amateur athletic facilities only.

Manitoba’s contribution: $20 million

Winnipeg’s contribution: A prop­erty- tax exemption for the stadium component only, except for year-round retail and restaurants operating within.

Creswin’s investment: $100 million.

Polo Park component: Canad Inns Stadium to be demolished in late 2010 and the city-owned property will be sold to Creswin at full market value.

Creswin will then funnel lease revenue from future commercial developments toward new athletic facilities at Univer­sity of Manitoba.

University of Manitoba component:

30,000-seat stadium to be constructed in 2010 and 2011 at the northwest corner of Chancellor Matheson Road and University Crescent. Will include an inflatable “bubble” for winter field use, a Blue Bomber Hall of Fame, Bomber and Bison retail stores and a training centre for use by both Bomb­ers and Bisons. The project will also see upgrades to University Stadium stands and locker rooms as well as the construction of a new fitness centre somewhere on the Fort Garry campus.

Stadium ownership: A new non-profit organization called the Winnipeg Foot­ball Club Stakeholders, to be governed by eight board members. The city, province, the Winnipeg Football Club and Creswin will each appoint two members.

Football club ownership: A new cor­poration led by Asper assumes control of the Winnipeg Blue Bombers in 2010.

Club’s future in Winnipeg: Guaranteed in perpetuity by Community Interest Agreement signed between Winnipeg Football Club, Creswin and all other parties. If Creswin or the stadium pro­ject fails, the club reverts to non-profit ownership.

http://www.winnipegfreepress.com/local/blue-bombers-new-home-to-enjoy-same-tax-breaks-47760852.html

 

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