Assessing the situation

It wasn't double the fun when Sidney Scott opened his 2010 property assessment notice and saw his home's value had nearly doubled.

That value of his Isle aux Morts home went from $33,200 to $61,500 - at least on paper.

He wasn't alone. Assessed property values in Isle aux Morts increased just over 60 per cent on average.

The total value of property within the town jumped from $8.39 million to $13.53 million.

"If everyone is up this much, something is wrong," said Mr. Scott.

According to the Municipal Assessment Agency, the most common reason for increasing values is a rising market value of the property due to general changes in property values in the community. That's aside from major improvements to a property.

Mr. Scott said Isle aux Morts hasn't seen the kind of improvements over the last five years that would warrant such an increase in property values.

He pointed out the community is still suffering after the loss of its fish plant and no other major employer has set up in the town. The number of full-time residents has also declined.

"My house is worth more than [the previous assessment] but I can't get it," said Mr. Scott, adding that several homes in the area have recently sold for between $15,000 and $30,000.

He feels the jump in value was too much, too fast.

"If it has been $40,000, no problem," he said.

The increase in value due to inflation alone over the five year period would have been about seven per cent, taking his value to about $35,424.

Mr. Scott is concerned about what this new assessed value will mean for his municipal tax bill.

He believes the assessments should have been mailed out to residents before the municipal elections at he end of September. Mr. Scott said that way residents could have asked potential councillors what they intended to do about the increases.

He said he's heard the town is considering lowering its mill rate this year to offset the increase.

However, Mr. Scott said whatever mill rate increases occur in the future will still be on the higher assessed amount.

He plans to appeal his assessment. The deadline to appeal is Nov. 1. Mr. Scott said he would encourage anyone in a situation similar to his to appeal as well.

editor@gulfnews.ca