PROPERTY TAX ASSESSMENTS ARE UP - AND IN THE MAIL SOON

Apr 05, 2016

By Michael Kramer

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You can expect the value of your property to have increased by an average of 18 per cent – as homeowners begin receiving their new assessments from Ontario’s Municipal Property Assessment Corporation.

They’ve begun mailing out notices for the first time since 2012 – starting with the Barrie, Brockville and Cornwall areas.

The assessments are done every four years – and MPAC says notices for the rest of Ontario are being sent out over the coming weeks.

The new figures show property values rising an average of 4.5 per cent – in each of the past four years.

MPAC says if homeowners feel they could have sold their home for its assessed value on January first this year – then their assessment is accurate.

If not, people should contact MPAC.

The assessed value is used by local municipalies with their mill rate – to determine  property taxes.

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