HawthorneVillager.com

Hawthorne Village (Milton) Discussion Board
It is currently Sun Dec 17, 2017 8:54 am

All times are UTC - 5 hours




Post new topic Reply to topic  [ 5 posts ] 
Author Message
 Post subject: finishing basement
PostPosted: Wed Nov 15, 2017 10:58 am 
Offline

Joined: Fri Mar 03, 2017 8:25 am
Posts: 13
What are the town of milton regulations around finishing basement?
If this is meant for own use (in-law suite) vs. for rental?

I understand the property tax is hiked, is this only if the basement is for rental or for own use as well?


Lastly, open to recommendations for contractors.

Thanks


Top
 Profile  
Reply with quote  
 Post subject: Re: finishing basement
PostPosted: Wed Nov 15, 2017 2:47 pm 
Offline

Joined: Wed Feb 26, 2014 1:14 pm
Posts: 559
Location: Phase 3A
johnt8989 wrote:
What are the town of milton regulations around finishing basement?
If this is meant for own use (in-law suite) vs. for rental?

I understand the property tax is hiked, is this only if the basement is for rental or for own use as well?


Lastly, open to recommendations for contractors.

Thanks


Town of Milton is helpful and your worry about property tax increase, it is very small portion may be depending on the size about couple of hundred dollars extra. The property tax is calculated based on the increase in value as a result of finished basement and not depended on what is the end use.


Top
 Profile  
Reply with quote  
 Post subject: Re: finishing basement
PostPosted: Wed Nov 15, 2017 4:32 pm 
Offline
User avatar

Joined: Sun Jun 01, 2008 10:14 am
Posts: 4473
Location: Milton
Carl wrote:

Town of Milton is helpful and your worry about property tax increase, it is very small portion may be depending on the size about couple of hundred dollars extra. The property tax is calculated based on the increase in value as a result of finished basement and not depended on what is the end use.


Actually property tax increases are generally based on the price homes sell for in a particular neighbourhood / street. Not weather or not a basement is finished or not.

But that is all irrelevant because a razor thin majority of our town counsel think money grows on trees for all to grab. Our municipal taxes went up double the rate of inflation last year and is poised to go up even higher next year.

_________________
For Home Inspection services call Andy Shaw at Halton Home Inspection Service. 905 876 4761

Image


Top
 Profile  
Reply with quote  
 Post subject: Re: finishing basement
PostPosted: Fri Nov 17, 2017 12:13 pm 
Offline
User avatar

Joined: Sun Jun 01, 2008 10:14 am
Posts: 4473
Location: Milton
Halton Home Inspector wrote:
Carl wrote:

Town of Milton is helpful and your worry about property tax increase, it is very small portion may be depending on the size about couple of hundred dollars extra. The property tax is calculated based on the increase in value as a result of finished basement and not depended on what is the end use.


Actually property tax increases are based on the price homes sell for in a particular neighbourhood / street. Not weather or not a basement is finished or not.

This is why out spendy spendy town counsel now has a windfall of cash to waste, all a result of the crazy market not long ago.

A razor thin majority of our town counsel thinks money grows on trees for all to grab. Our municipal taxes went up double the rate of inflation last year and is poised to go up even higher next year.

_________________
For Home Inspection services call Andy Shaw at Halton Home Inspection Service. 905 876 4761

Image


Top
 Profile  
Reply with quote  
 Post subject: Re: finishing basement
PostPosted: Mon Nov 20, 2017 12:42 pm 
Offline

Joined: Fri Mar 03, 2017 8:25 am
Posts: 13
MPAC said the increase in prop tax is based on increased value of house after finishing the basement.
They said there is no way to tell in advance sometimes there is no increase sometimes its upto $30k or $50k etc.


Top
 Profile  
Reply with quote  
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 5 posts ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: Bing [Bot] and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB® Forum Software © phpBB Group
[ Time : 0.074s | 12 Queries | GZIP : Off ]