House of the Week: $2.4 million for a Rosedale home owned by Miley Cyrus’s songwriter

14 thoughts on “House of the Week: $2.4 million for a Rosedale home owned by Miley Cyrus’s songwriter”

1. Nice! I will consider it when I win lotto tonight!

2. at almost 2.4 M and only 12k in taxes, I say MPAC has GROSSLY undervalued this. Perhaps that’s where the problem is – MPAC not assessing our ‘ultra’ rich friends at the appropriate level, having my measilly 700k home pay a 5500 bill. A tax hike and re-balance of the books would be enough to pay most of our budget shortfalls

3. famous owner? nobody has heard of the guy!

4. Great house, I would buy it if it weren’t almost right next to the train tracks. I live 2km away and the noise of the freight trains still annoys me.

5. it is a beautiful place, and nicely staged. I’ve seen a bunch of 1M dumps in this city, and for 2x the price, plus change, this is nice. Why no photos of the backyard?

6. Clearly some people have!

7. You and this author apparently. I bet 100 people out of 100 people on any street in Toronto at any moment of the day would not know who Stephan Moccio is when asked. I’ll put my money where my mouth is. $1000 to you if anyone out of 100 people asked randomly on the street here in Toronto knows him. If they don’t you pay me MTBkelly. Feel free to contact me to accept or decline the challenge.

8. P.S. If he was famous, the author also wouldn’t have to write “Miley Cyrus’ songwriter” in the title. It’d just say “…Rosedale home owned by Stephan Moccio”

9. Evidently he is more famous and much richer than you, you come off like someone who is very jealous.

10. Not at all, simply a man who dislikes the pretentiousness of most Toronto Life real estate articles.

11. *sigh* The stated property tax is based on the previously assessed value and NOT the asking price. Whoever purchases this house will most certainly be getting a property tax increase.

12. I understand that, but I’m saying it’s obvious that MPAC hasn’t kept up with the rate of our housing value increase.

13. I have heard it discussed by others, in reality TO residential property taxes are low compared to neighbouring cities which are newer and so cost more to build but guess what Toronto, you have the crumbling infrastructure that needed to be fixed long ago. In my city houses with half the list price of this house are paying at least 12 K in property taxes.

    MPAC is woefully behind in their assessments. They were always behind somewhat but it has become worse since they started closing down offices everywhere.

14. That is a different point your discussing. As previous poster highlighted, taxes are based on a set rate/multiplier. They derive this rate from total budget to total MPAC valuations. If MPAC increased/decreased valuations on ALL properties, it would not change the amount of tax. The rate would appear higher/lower, but that doesn’t change the net tax of a homeowner if the the changes are the same for all properties.

    We pay a lower rate because of the intensity and economies of scale. There maybe 4 properties within 100ft of road in Toronto, all paying taxes, but in a less dense city, you may get 1 property per 100ft of road. Total revenue is divided, over 4 households instead of 1 household. That is part of the savings a larger city has, hence, should have lower rates than less dense cities. P.S. Torononians do pay more taxes per household/person than most cities.

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