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You and "YOUR" Property Tax Bill - How Much Reserves/Surplus Is Enough

By
Services for Real Estate Pros with My Time Is My Own

You and "YOUR" Property Tax Bill 

According to information in the local paper Uxbridge has an accumulated surplus of over 88.6 Million Dollars. That amounts to over 10 years of current taxes collected from all classes of property. It also represents 6.5 years of total current expenses.

What amount of reserve funds do you usually have, a years income, two years income, more or less. With some people living from pay check to paycheck one has to ask How Much Surplus is enough?

 

Something to think about with this being an election year !

 

 

 

It's no wonder some Canadians feel they are

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Posts on Property Assessment and Taxation are for informational purposes only please read the  CAVEAT

Comments (10)

Ted J. Macy
Top Agents Atlanta Metro - Milton, GA

Thanks for the insite, wonder how many places in the US can say the same???

 

Aug 04, 2010 04:32 PM
Linda Hinson
S & L Properties - Calabash, NC

I just completed a blog on American cities shortfall; I wish we had your problem.

Aug 04, 2010 04:34 PM
John Grasty
for real estate results in the Tri-Cities. - Port Moody, BC
Your Tri-cities REALTOR, neighbour and volunteer.

Based on Wikipedia's population figure of 19,169, that's over $4,600 per man, woman and child!

Does the municipal council have some upcoming capital projects Barrie?  (Maybe a CFL or NHL franchise is coming to town! LOL)

If the municipality does, I hope there are matching funds from the region, province and feds.

Perhaps the local incumbents will be going on a vote-buying spending spree just in time for the elections.

Aug 04, 2010 04:52 PM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Ted - it would be interesting to see a cross section of surpluses/deficits across North America

Aug 05, 2010 01:56 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Linda - Uxbridge is a small (population wise) Township as you can see in John's comment above. Much of Uxbridge is protected green belt or rural agricultural so it has a good gross assessment base to tax with a relativly small population to support.

Aug 05, 2010 02:03 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

John - The next few years will see some major expenses as the town has aquired a very large tract of land for a major recreational development and potentially other uses. In the past Uxbridge has been able to secure "matching" or additional funds from all senior levels of government. Uxbridge has been able to take advantage of funds available because they were in a position to anti up their portion.

Aug 05, 2010 02:13 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Barrie,

Fiscal management is something that should be left to the experts rather than the politicians.

However, the experts are sometimes even worse.

Brian

Aug 05, 2010 04:05 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Brian - the level of expertise definetly has had a positve effect on Uxbridge. Unfortunately the primary experts that got them where they are today are now retired and it's too early to comment on their replacements

Aug 05, 2010 07:55 AM
FN LN
Toronto, ON

It would be nice if Uxbridge reduced their property tax rates for some time.  Also, hopefully, council does not get the idea to spend on frivilous projects.

Aug 05, 2010 10:26 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Marc - LOL - how about a tax hiatus - For Several Years they were able to maintain little or no increase but again the experts that did that have unfortunately retired.

At $31,966,000.00 the Region and the School Board combined take almost 80% of the total $40,479,184.00 in taxes collected. I've always maintained the bigger the bureaucracy the harder it is to hold them accountable.

Aug 05, 2010 03:53 PM