Tuesday, December 9, 2008

Are You Satisfied With Your 2009 Property Tax Assessment?

Property owners throughout Ontario have recently received their 2009 property assessment from The Municipal Property Assessment Corporation (MPAC.) With these assessments, the date of valuation used for your 2009 assessment is January 1, 2008. The 2008 value will establish the basis of assessment from 2009 to 2012. Increases in value above the 2005 assessed values will be phased in over a four year assessment cycle using an increase of 25% per year. This phase-in period does not apply to assessment decreases. Decreases in property values are effective immediately for property tax purposes. This year’s assessment notice was revised to include additional information concerning the 2005 and 2008 values and phase-in details.
The average increase in property values across Ontario for the 2009 assessment was 20%. This will be phased in at a rate of 5% per year until 2012 for property tax purposes. Unlike in the past, the assessor now has the obligation to prove that their assessment is correct whereas in the past, it was the taxpayer that had to prove their assessment was inaccurate. The deadline date for application for Request for Reconsideration is now March 31, 2009. The deadline date for appeal of assessments is March 31, 2009. For further assessment information with the Municipal Property Assessment Corporation's website.

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Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4


Direct: 705-443-1037

Office: 705-445-5520 ext 230


My Profile

Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.