Hey all
So as some of you know, Mrs Masato owns a pottery studio and is 1/2 owner of an art school type business:
viewtopic.php?f=15&t=1084&hilit=%20ART
Anyways, the building she bought was a new building, they were the first tenants.
The City claims now that these newer properties had 'not been assessed' for their property tax value, and has recently decided what the new property tax rates will be.. ($1800/month as far as I know... :shock: I'm still trying to figure this out )
But what's crazier, is that as far as I understand, the City is RETRO-ACTIVELY applying this new rate to all the years they have been in the building!! The bill? $50,000
When do they have to pay it?
October of this year. (1 month)
What happens if they don't/can't pay? Interest starts accumulating.
They just found this out yesterday.
They don't have 50G's (who does)? and this kind of money is enough to completely fuck up an otherwise flourishing small business.
What to do...?
Wife's Surprise Property Tax Notice
I was thinking; what other business can apply new rates retroactively? lol
Its like if I decide to triple my rates one day, then call all my clients for the past 2 years and say they owe me?
What's done is done. Set the new rates, fine OK we'll find a way. But retroactively applying to past years for a bill of $50,000 due immediately? That is insanity. Something is wrong here
I am brainstorming possible creative ways to fight or challenge this.
Nothing yet, lol
Its like if I decide to triple my rates one day, then call all my clients for the past 2 years and say they owe me?
What's done is done. Set the new rates, fine OK we'll find a way. But retroactively applying to past years for a bill of $50,000 due immediately? That is insanity. Something is wrong here
I am brainstorming possible creative ways to fight or challenge this.
Nothing yet, lol
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Canuckster
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1800 month for taxes? I'd do some research before paying them a dime, possibly a lawyer that's some extortion level bullshit. And they wonder why ontarios business sector is dying and moving away from anywhere but here,
People say they all want the truth, but when they are confronted with a truth that disagrees with them, they balk at it as if it were an unwanted zombie apocalypse come to destroy civilization.
Bullshit
That's insanity. Getting a lawyer will break you though, unless you know one that's willing to look into it. Have either of you called them to see what the hell is going on?
The city of Winnipeg recently tried to bill me several thousand dollars for parking tickets I paid off more than 25 years ago. I had to call them from Hong Kong and tell them they were insane and I wasn't going to pay the tickets again. They said they didn't know what was going on. Yeah no shit.
Good luck guys.
The city of Winnipeg recently tried to bill me several thousand dollars for parking tickets I paid off more than 25 years ago. I had to call them from Hong Kong and tell them they were insane and I wasn't going to pay the tickets again. They said they didn't know what was going on. Yeah no shit.
Good luck guys.
Some good news;
There is is old wealthy Italian guy that had sold the property to my wife and her business partner, but he also still owns a lot of the other newer buildings on the block.
What's more, when my wife bought the building, the banks were rejecting to approve her for a mortgage so the Italian dude offered to set up the mortgage with HIM instead. So her commercial mortgage is a private one with this dude and they have developed a loose friendship.
The Italian dude is also pissed and has the $$ to pay a lawyer to challenge it, and has offered to defend my wife and her partner as part of the challenge.
Free Lawyer fees! woohoo
I like to think I'm somewhat of a lucky bastard, but my wife then is most certainly a lucky bitch
I'll keep you posted to see how it goes. I really don't know what to expect; on one hand what the City is doing is ethically/logically/mathematically wrong and we should totally win... on the other hand laws and bureaucracy can be a motherfucker, and I can also see a situation where no one @ City Hall has the balls or sense to overturn the papers.
wish her luck
There is is old wealthy Italian guy that had sold the property to my wife and her business partner, but he also still owns a lot of the other newer buildings on the block.
What's more, when my wife bought the building, the banks were rejecting to approve her for a mortgage so the Italian dude offered to set up the mortgage with HIM instead. So her commercial mortgage is a private one with this dude and they have developed a loose friendship.
The Italian dude is also pissed and has the $$ to pay a lawyer to challenge it, and has offered to defend my wife and her partner as part of the challenge.
Free Lawyer fees! woohoo
I like to think I'm somewhat of a lucky bastard, but my wife then is most certainly a lucky bitch
I'll keep you posted to see how it goes. I really don't know what to expect; on one hand what the City is doing is ethically/logically/mathematically wrong and we should totally win... on the other hand laws and bureaucracy can be a motherfucker, and I can also see a situation where no one @ City Hall has the balls or sense to overturn the papers.
wish her luck
Tao not luck. When is it not?
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Megaterio Llamas
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- Reputation: 2546
Lucky break with the legal help there Masato. Good luck with this.
el rey del mambo
Call it luck, call it Tao... Mrs Masato is cashing in in spades on this one.
She met with her mortgage holder, who as I said also owns a bunch of buildings on the block. He says he's gonna fight (is way too high compared to surrounding commercial buildings.. either hers has to come down or they are raising everyone's in time)... but if the City still makes them pay the back-taxes, the old man has offered to PAY IT FOR THEM, and just add the amount onto their existing mortgage they have with him.
That is fucking sweet. So at worst, they will just have to start fresh @ the new tax rate, or at best, with the help of this guy they might be able to challenge it and knock it down.
It will be interesting to see what happens; do we have the power to challenge these things and protect ourselves? Or does the City truly have the power to raise rates and stick you with invoices whenever they please?
She met with her mortgage holder, who as I said also owns a bunch of buildings on the block. He says he's gonna fight (is way too high compared to surrounding commercial buildings.. either hers has to come down or they are raising everyone's in time)... but if the City still makes them pay the back-taxes, the old man has offered to PAY IT FOR THEM, and just add the amount onto their existing mortgage they have with him.
That is fucking sweet. So at worst, they will just have to start fresh @ the new tax rate, or at best, with the help of this guy they might be able to challenge it and knock it down.
It will be interesting to see what happens; do we have the power to challenge these things and protect ourselves? Or does the City truly have the power to raise rates and stick you with invoices whenever they please?
I see your answer to this dilemma.
You sellout whore ;)
-DriveByPosting
You sellout whore ;)
-DriveByPosting
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