03 May Grade 12 Essentials. Word of the day: Property Tax
Announcements:
- Progress reports were handed out Wednesday again. Several students would benefit from getting in some more assignments.
- Study Notes (Cheat Sheet). How are those looking?. Tweak up the Teacher Study Notes (Cheat Sheet) for now, add in your bits and examples, then re-do your own for submission with Final Exam. A possible EXTRA 5% added to course mark. Study Notes Preparation and Rubric.
Today:
- Unit F House Finance. Read Unit F Notes pp. 11-16 Property Tax.
- Lesson Support Videos: Property Tax
- A typical Annual Tax Bill. Notice the city allows the school divisions to tack on the School Taxes too!
- Catch up
- Finish A -1 Problem Solve Using Tables, A-2 Problem Solve by Making Simpler Version.
- Work on Take-Home TEST. ~15% of the class mark. Open book (althoug an effective cheat sheet would be less frustrating). Collude (work) with others if you need. Have it in by Monday 10:00. Absolutely no later than, thanks. (several were already handed in yesterday!)
Useful Resources:
- CMHC Home Buying Guides. The Canadian Mortgage and Housing Corporation, a semi-government National Hosuing Agency. Some excellent materiel on buying a home!
- City of Winnipeg Taxation Department. Explore any address in the city, see wits details, its value, … etc. Property Assessment Details Search.
- A Selection of Questions for House Finance from Archived Exams. Take a peek at 10 years worth of past exam questions
Definition Property Tax
Property Tax. The annual taxes collected to fund all the services a city (or municipality) provides: police, fire department, (those two take up half the budget), rec centres, libraries, food inspections, cemeteries, snow removal, governance, parks, and way more, … ….. Residential properties pay about 45% of the city’s revenue. Presently the school taxes are also piggy-backed onto the same annual bill. Typical annual bill would be about $1,500 for the city and $1,500 for the school division.