How are property taxes calculated?
Residential property taxes are calculated through multiplying the municipal tax rate by the assessment of your property. The higher the tax rate or assessment, the higher the tax burden of the property.
Where do I find the assessment?
Every residential property receives an assessment in the form of a Property Assessment Notice through the mail. This notice will outline the taxation value placed on the property by the Municipal Property Assessment Corporation (MPAC). It will include the 2016 Current Value Assessment dated January 1st, 2016 as well as a breakdown of the phased-in values for the 4-year cycle.
Is your value too high?
We analyze your property along with the best comparable properties in the area to find an accurate value and challenge the assessment to reflect our conclusion. Through the process of exchanging information and negotiations we settle on an assessment that would decrease the property’s taxes. If an agreement is not reached with the Municipal Property Assessment Corporation and there are facts in the favour of a reduction, then an appeal will be initiated with the Assessment Review Board. We will then represent you as the owner of the property in the process. Be advised that our service is on a success fee basis and you will not need to pay us until we achieve savings.