Belleville Real Estate, Quinte Real Estate, CFB Trenton Real Estate Relocations

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Belleville Real Estate, Quinte Real Estate, CFB Trenton Real Estate Relocations

Your Taxes and MPAC

On January 1st 2008 a three-year assessment freeze on property taxes ended, the Ontario government plans to spread out any assessment increases over the next four years.

The freeze was initiated following complaints from property owners to the Ontario Ombudsman's Office that the Municipal Property Assessment Corporation (MPAC) was conducting inaccurate and unfair assessments. Following an investigation, the Ombudsman's Office made 20 recommendations for improvements to MPAC's assessment system including changes to the way the Crown Corporation communicated with property owners.

As of the last report, the Ombudsman stated that MPAC had completed 10 of the 20 recommendations and was moving forward on the remainder. Among the completed recommendations is a revised brochure that is sent out with reassessment notices. This brochure now mentions how important it is that MPAC's information be accurate and urges people to report any inaccuracies. It tells how an assessment can be reviewed and a look at up to 24 property comparables through a section of its Web site called "About My Property." If an error has been made they will correct it and explain how the assessed value was arrived at and answer any questions. Finally, it explains all the various ways you can challenge your assessment and offers more information about how properties are evaluated and has posted many of its procedures online.

A new Property Taxpayer Web Portal is also being developed, through which owners will be able to access their Property Profile Report and comparables. The assessment notice form itself is also being redesigned for 2008 but is still being reviewed because of the potential impact of the province's new four-year reassessment schedule.

In the meantime, the revised assessment process is under way and property owners will be receiving their assessments in August and September. Current property taxes are based on market value assessments conducted by MPAC for January 1, 2005, and are determined by comparisons with the average city property value. If the estimated value of a property increases at a rate below the city average, the homeowner's property tax will decrease. If property value increases at a rate above the city average, the tax will increase. The reassessed values, with a valuation date of January 1, 2008, will apply to the tax years 2009 through 2012.

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