Go Back   BuildingHomes.ca - Building your community! > General > Financing, Mortgages and Insurance

Financing, Mortgages and Insurance What options are best for you and your situation?


Reply
 
Thread Tools Display Modes
  #21  
Old 2012-05-24, 02:39 PM
Almost_Home Almost_Home is offline
Senior Member
Regular User
 
Join Date: Oct 2010
Location: Ontario
Posts: 502
Default

Quote:
Originally Posted by Zorro View Post
Thank you Stitts, that's great way to plan it out, and coincidentally we are estamating our taxes to be $4K/year. So with 12 months...that comes out to $500/month, which would cover the second half 2012 and all of 2013.
Exactly - then divide by 26 and there is the number you want to give to the bank to deduct with your mortgage ($230.77) on a bi-weekly basis if that is how your pmts are scheduled.
__________________
Patiently Awaiting Our Next Adventure



Reply With Quote
  #22  
Old 2012-05-24, 03:05 PM
foxborough foxborough is offline
Senior Member
Regular User
 
Join Date: May 2009
Location: Ottawa, Summerside
Posts: 984
Default

You can call the city and request that you be added to the tax roll. I believe that it is always better to get your tax bill on time rather than getting it late. Having 2 years of taxes to pay isn't a pretty thing.

As for how much to put aside, I always recommend to clients that they put aside about 1.25% of their purchase price annually. If your home is purchased for $350,000, then you would put away $350,000 x 1.25% = $4375 a year, or $365 a month.
__________________
Moved In
Reply With Quote
  #23  
Old 2012-05-24, 03:06 PM
Riverbend C Riverbend C is offline
Senior Member
Regular User
 
Join Date: Aug 2010
Location: Orleans
Posts: 228
Default

Quote:
Originally Posted by ildara View Post
I think it's around 1 to 1.5 years for an assessment. Assessments are done by MPAC, not the city.
It depends, cause in my case I moved in Feb 11 and by Sept 11 I had my assessment from MPAC and 2 weeks later I received my tax bill from the city.
__________________


Reply With Quote
  #24  
Old 2012-05-24, 03:33 PM
Shadow's Avatar
Shadow Shadow is offline
Senior Member
Regular User
 
Join Date: Nov 2008
Posts: 381
Default

Hey you could be like us - we moved in Sept 2011 and in October 2011 got our supp bill - no one else on the street has been assessed except us.

In our previous home is was almost 1.5 years till we got it - and when you get it you have 30 or 45 days to pay it.
__________________
Ex-Cardel Homeowner
Ex-Braebury Homeowner
Ex-Richcraft Homeowner
Ex-Minto Homeowner
Reply With Quote
  #25  
Old 2012-05-24, 04:28 PM
homeshoppin homeshoppin is offline
Senior Member
Regular User
 
Join Date: Sep 2008
Location: Ottawa
Posts: 867
Default

Shadow, we were like you. We moved in Sept 30th, 2009 and got our supp bill Dec 2009. Didn't take long but we were also inventory.
__________________
Richcraft | Woodroffe Estates | Fulton LE
Closed: Sept 30, 2009 (SOLD!!!)
--------------------------------------------------------
Mattamy | Half Moon Bay South | Valleyfield A
Closed: July 22, 2014 and loving it!


Reply With Quote
  #26  
Old 2012-05-24, 05:13 PM
good2know's Avatar
good2know good2know is offline
Senior Member
Regular User
 
Join Date: Sep 2010
Location: Ottawa
Posts: 5,775
Default

Quote:
Originally Posted by foxborough View Post
You can call the city and request that you be added to the tax roll. I believe that it is always better to get your tax bill on time rather than getting it late. Having 2 years of taxes to pay isn't a pretty thing.
Sorry been there tried that and they can't / wont until the mpac assessment info comes to them.
Reply With Quote
  #27  
Old 2012-05-25, 08:35 AM
Jasonn Jasonn is offline
Member
Regular User
 
Join Date: Aug 2009
Posts: 85
Default

whats with this mpac thing? i got one in the mail shortly after we moved in but never filled it out..is that bad? does your taxes always go up when you fill out these things? is their assessment based on purchase price?
Reply With Quote
  #28  
Old 2012-05-25, 10:07 AM
gerapau's Avatar
gerapau gerapau is offline
Senior Member
Regular User
 
Join Date: Jun 2009
Location: Ottawa
Posts: 1,788
Default

Quote:
Originally Posted by Jasonn View Post
whats with this mpac thing? i got one in the mail shortly after we moved in but never filled it out..is that bad? does your taxes always go up when you fill out these things? is their assessment based on purchase price?
Go to www.mpac.ca. They explain everything there.
Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Property Taxes asparagus Stouffville - River Ridge, MainStreet and Country Lane 5 2009-03-15 11:38 PM
Property Taxes L&V Markham / Thornhill / Vaughan 3 2008-10-22 06:34 PM
Property Taxes Maya Burlington 4 2008-10-13 02:01 PM
property taxes macrae Dufferin General 1 2008-01-17 04:37 PM
Property Taxes GregS Milton 8 2003-11-26 04:38 PM



All times are GMT -4. The time now is 06:11 AM.



Copyright © PHAND Corporation
This document may not be used elsewhere without the expressed written consent of PHAND Corporation.
*** There is no association between this website and any builder. ***

Powered by vBulletin® Version 3.8.10
Copyright ©2000 - 2019, vBulletin Solutions, Inc.