Property issue

Condo owners upset over surprise tax bills

WATERLOO — The management firm for a Waterloo condo building says it’s working to resolve a property tax dispute after owners say the builder collected money that was never passed onto the city.

More owners of ICON Waterloo, a 600unit, twin-tower development on Phillip Street, say they were surprised to get property tax bills from the City of Waterloo after they’d already paid the builder their 2016, 2017 and 2018 taxes in advance.

It’s the latest in a tax dispute dating back months, with some condo owners saying they have yet to see any money refunded.

“I want to know where the money is. It’s supposed to be tax money. The builder can’t use it for anything else,” said Nancy Cheng, who bought her unit in September 2016.

“The city says they did not receive payment from the builder. But they said it’s not their business, and that’s why they charged us as owners.”

Cheng provided documents that show she was charged $7,130.23 in prepaid property taxes by the builder, a numbered company owned by Ancaster’s Rise Real Estate. She was puzzled when she began getting bills from the city for taxes that the builder had already collected.

The builder’s lawyer did not respond to a request for comment. But it appears the developer is trying to resolve the issue.

Eric Miller, an owner relations manager with Abode Student Life, said part of the delay in refunds was because the Municipal Property Assessment Corporation was until recently still making adjustments to property tax assessments.

“Most of the owners have been reimbursed and the remaining owners are now being refunded,” he said, in an email.

He added that his company is holding off on collecting a portion of its management fees until the property tax issue is resolved. Part of the issue is the building still doesn’t have a condo board, despite having residents for more than two years. The latest attempt to form a board this week failed, when not enough owners attended a meeting.

Cheng, a real estate agent who sold seven other units in the building, said only “two or three” of those buyers have received their 2017 property taxes back from the builder. And they’re fed up with waiting. “Some of my buyers have not received even one cent,” she said. “Where is our money?”