Cranbrook Village Association #6

Is anyone in the sub going to contest their ridiculously high assessment for 2008? 4 trilevel homes have sold in the last half of 2007, for $164,000, $195,000 $180,000 and $195,000 and all of them are much bigger than mine and my 2008 assessment is $133,830 (1/2 of $267,660) There is no way I could get that figure for my place. 23310 Thorncliffe sold for almost half of its assessed value. Therefore we are being taxed at almost twice what our homes are worth!!!!Any property that changed hands for over $200,000 since May of 2007 is either much newer with premium lot and large or is a bank repossession.

I agree

Phillip, you are correct. we need to come up with a solution, to protest these assessments. There are three homes near me that have been foreclosed on. Also,I know of a someone who moved into the Ravines. They were paying 1600 a month, then the new taxes kicked in and their note went up to 2800 a month, now their subprime has kicked in, and they are paying 3600 a month. The taxes, not the subprime may cause them to lose their home.

Phillip,

I Agree with you but after much investigation, conversation and sitting in meetings with the Mayor, treasure and city council members this issue will not go away any time soon. It is blamed on the Proposal A among other issues. It would be nice to have assessed value equal to the taxes paid. I have heard from developers who have problems selling residential properties due to this same issue. High Taxes.