The bubble's going to burst and it won't be pretty ...

from the Ottawa Citizen

[...]

While the city's [Ottawa's] average assessment increase on all residential properties is 11.84 per cent, there were many areas with property assessments that jumped far beyond that average.

In particular, residents of Kitchissippi, Rideau-Vanier and Somerset wards should brace themselves for a substantial tax increase in 2006. Kitchissippi Ward, which includes trendy Westboro and up-and-coming Hintonburg, had the highest average increase on residential properties, at 18.55 per cent, while Rideau-Vanier's average increase is 16.79 per cent. Somerset Ward is a close third at 16.1 per cent.

[...]

That's not the least of it ... 41% seemed to literally jump off the page. Cripes! This place is built on a swamp!

The provincial assessment system is run by a bunch of loonies who get a commission based on the assessed values. Tell me that's not ripe for theft! Any appeal will cost to initiate, and would be two or more years in the system.

AAaaarrrrggggghhhh!!