Toronto strike savings yield property tax break

The savings recouped from Toronto’s civic workers strike will likely be put towards property tax bills next year instead of being mailed out as rebates to city residents.
The city’s executive committee recommended Monday that the estimated $33.2 million saved in the summer work stoppage be applied to next year’s operating budget.
Some city councillors had pushed for an immediate rebate.
But the city has estimated the cost of issuing and administering rebate cheques at somewhere between $2 million and $3 million.
Mayor David Miller said Monday that reflecting those savings in property tax bills is “the fairest and most efficient way” to return the money to Torontonians.
The proposal is expected to save taxpayers around 2.8 per cent on their tax bills — about $36 million — next year.
But Miller wouldn’t say if property taxes will increase in 2010, or by how much. While there are no official figures out, the city is facing a significant budget shortfall next year.
Council will vote on the executive committee’s recommendation later this month.
The 39-day strike by about 30,000 municipal employees left most residents of Canada’s largest city with no residential garbage or recycling collection. City-run daycares and summer day camps were closed, along with swimming pools and most other city services.
http://www.cbc.ca/canada/toronto/story/2009/10/05/toronto-strike-tax-savings695.html

The savings recouped from Toronto’s civic workers strike will likely be put towards property tax bills next year instead of being mailed out as rebates to city residents.

The city’s executive committee recommended Monday that the estimated $33.2 million saved in the summer work stoppage be applied to next year’s operating budget.

Some city councillors had pushed for an immediate rebate.

But the city has estimated the cost of issuing and administering rebate cheques at somewhere between $2 million and $3 million.

Mayor David Miller said Monday that reflecting those savings in property tax bills is “the fairest and most efficient way” to return the money to Torontonians.

The proposal is expected to save taxpayers around 2.8 per cent on their tax bills — about $36 million — next year.

But Miller wouldn’t say if property taxes will increase in 2010, or by how much. While there are no official figures out, the city is facing a significant budget shortfall next year.

Council will vote on the executive committee’s recommendation later this month.

The 39-day strike by about 30,000 municipal employees left most residents of Canada’s largest city with no residential garbage or recycling collection. City-run daycares and summer day camps were closed, along with swimming pools and most other city services.

http://www.cbc.ca/canada/toronto/story/2009/10/05/toronto-strike-tax-savings695.html

Property Tax Assessments to be Mailed Soon

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2010 Property Tax Reassessment Notice: WHY? WHEN? HOW?

WHY?

Under provincial legislation, all properties across Manitoba are being reassessed regularly to make sure that taxes are fairly shared according to the assessed value of owned or leased properties. This is also done to ensure that the assessed values keep pace with real estate market conditions and help property owners understand and evaluate their own assessments.

WHEN?

The new assessment becomes effective in 2010, and will be used on your 2010 property tax statement. Assessment notices are being mailed in advance of the 2010 tax year. This action will benefit you as a property owner, as you will have more time to review your assessment and discuss it with an assessor. It is advantageous for the municipality too, as there will be more time to finalize assessments before the final roll is needed for tax purposes in 2010.

HOW?

Conveniently, you can get your assessment information online by visiting www.gov.mb.ca/assessment. Here, you’ll be informed about the assessment of all properties in Manitoba except in Winnipeg (Winnipeg assessments are available at www.winnipegassessment.com). You will also find answers to frequently asked questions.

Another way is to personally visit an assessor in a community near you. Assessors will hold Open Houses in many communities, offering you a convenient opportunity to discuss your assessment.

Property Tax Assessments to be Mailed Soon

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2010 Property Tax Update

The following are types of assessment notices, you may anticipate receiving one or two of the under mentioned:

•A real property notice for buildings and land
•A personal property notice for certain equipment or machinery
•A business notice, if you operate a commercial enterprise and your municipality imposes a business tax or fee

This updated assessment may affect your 2010 property taxes. I may suggest you to take a few minutes to scan and review this to supply you with recent information regarding land tax matters.

The Manitoba Government is reducing property taxes across the province. This is done by increasing the Education Property Tax Credit since 1999, to $650 in 2009, eliminating the Education Support Levy on residential property, saving residential taxpayers $100 million annually, and increasing the Farmland School Tax Rebate to 75% in 2009 from 33.3% in 2004.

Property Tax Assessments to be Mailed Soon

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Province caps rent increases at 1%

WINNIPEG – Renters will see a maximum one per cent rent hike next year, the province announced today.

That’s much lower than last year’s cap, which was 2.5 per cent.

The rent control guideline takes into account cost increases including utilities, property taxes and other expenses in running an apartment complex.

The cap applies to most residential rental property including apartments, single rooms, houses and duplexes.

http://www.winnipegfreepress.com/breakingnews/Province-sets-rent-control-cap-at-1-57362362.html

Property Tax Assessments to be Mailed Soon

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Meet an Assessor in a Community Nearby You

Meet an Assessor in a Community Nearby You :

As well as being available at individual offices  assessors will hold “Open Houses” in many communities across the Province of  Manitoba , Canada as well as throughout  the City of Winnipeg in many communities offering you a most convenient opportunity and opportunities to conveniently and fully discuss your property tax assessment and assessments.

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Updated Property Assessment Notices

An updated assessment may affect your 2010 property taxes.  It is best to take some time to review your notice , that was sent to you.

Include the important information on the back

The Manitoba Government is reducing property taxes across the full province of Manitoba , Canada by:

- increasing the Education Property Tax Credit since 1999 to $ 650 in 2009

- eliminating the Education Support Levy on residential property saving residential taxpayers $ 100 million dollars annually

- increasing the Farmland School Tax Rebate to 75 % in 2009 from 33.33 % in 2004 .

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Your 2010 Property Assement Notice

Your 2010 City of Winnipeg Property Taxes Assessment Notice

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- a real property notice for buildings and land

- a personal property notice for certain equipment or machinery

- a business notice.  If you operate a commercial enterprise and our municipalit y levies a business tax or fee

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Property Overassesed ? Realty Property Tax Appeal Services

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 Tax Rules Tax Rulings

That way the IRS can deduct more taxes from my paycheck throughout the year so i can get more money back at the end of the year. it’s kinda like a savings account you could say. Makes good sense to me. But with every new year comes a new set of tax laws. this year the “AMT” or alternative minimum tax was passed and this is going to affect many middle income families. Under the regular IRS rules, you start with your gross income and subtract deductions like state taxes you paid, and exemptions like child credits. Eventually, you arrive at your taxable income. Under AMT rules, you still start with your gross income, but many of the usual deductions and exemptions are disallowed. Suddenly, your taxable income is alot higher. Some key breaks are lost so here’s a list of them. state and local income taxes and property taxes, unreimbursed business expenses, child-tax credits, tax-preparation fees, legal fees, home-equity loan interest just to name a few. The original idea behind this tax was to prevent people with very high incomes from using special tax benefits to pay little or no tax. But for various reasons the AMT reaches more people each year, including some people who don’t have very high income. I have a professional tax consultant do my taxes every year because it has just become so complicated i can’t afford to make mistakes so i recommend this same advice to most people out there unless you can stay on top of the ever changing tax laws

http://www.afatherslifeonline.com/2008/01/new-year-brings-new-tax-laws.html

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Fun and Games in Winnipeg Real Estate Appraisal Property Land

Your 2009 Property Taxes – Your House As Seen By: Yourself… Your Buyer… Your Lender… Your Appraiser… Your Winnipeg Tax Assessor … If you don’t send this to five friends right away, there will be five fewer people laughing in the world! …

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