January 17, 2008, 7:00 am

The Blue Envelope

by: The Financial Blogger    Category: Assets and Net Worth,Miscellaneous,Properties
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This week I received the “blue envelope”. I was expecting it since the end of December. They never forget us. They always think of you at the end of the year and they always want you to financially worth more than last year. Can we say that they wish you a prosper 2008? I would say so.

blue envelope

On that day, my wife picked-up the mail but left the “blue envelope” on the counter. She usually don’t open these, they are addressed to the family banker…

When I got home, I opened the said envelope and look at the first page of the document. They want you to know that you are richer than you think first. They want to scare you in the first place. I looked briefly and I fold the paper as fast as I would have read “I know what you did last summer”.

I put the blue sheet on the counter and stared at my wife. She looked at be with a glance of panic in her eyes. That was it; she knew what it was about. She knew that it was ugly and that we had to pay the price of what we did. What we did last fall…

– 231 I whistled. I can’t believe it. 231!

– They didn’t even come to see us. Ask us questions, nothing! My wife replied, discouraged.

This is when I gather all my courage and pick up the blue envelope again. I will get to the bottom of this now, I told myself. I went rapidly to the second page of the document to actually acknowledge what could be one of our financial day ever… Huh? That’s it? I looked back at my wife and start laughing.

– The city increased our municipal evaluation by 25% but they didn’t care charging us a penny more! They simply dropped down the tax rate in order to bill the same thing as usual. That’s neat!

As you now realized, every year we receive our tax bill through a blue envelope. Since our house was built in 2002 and no new assessment was made since then, I was expecting a big raise this year. The raise of my property value was there, but fortunately, our city is making enough money that they can let their resident breath a little.

While the property tax assessment is showing a higher amount, it is still underestimating the value of our property. I think the city will never be able to keep up with such strong market. However, I will not complain as the tax bill remain the same!

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That is quite surprisingly. My state and county has taken the opposite approach. They’ve doubled the assessed value of many properties over the past 2-3 years and they’ve continued to tax at the same rate!

Enjoy it while you can. The next round of gov’t officials won’t be nearly as honest!

[…] of us today. You will have to go to Mrs Nickelby’s shop to get some more, and you can post this envelope on the […]