<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=294326554740919&ev=PageView&noscript=1" /> Worried about the latest Property Tax Assessment? - Wilson Sisters

Worried about the latest Property Tax Assessment?

06 December 2012
Wilson Sisters

Property Taxes are a HOT topic lately in Toronto as the Assessment Notices went out and many were shocked to find out how much their assessed values increased since last time. A few of our clients were surprised to find that their assessed values were higher than that of their neighbors and were asking us about the appeal process. We’ll get into the steps involved below for your reference…

The Assessment Notice also provides useful information about the amount of the increase (if any), a comparison to the average phased-in assessment change and detail of the phase-in of the assessment over the next four years. You can compare your property assessment with those of similar properties by accessing AboutMyProperty on the MPAC website at www.mpac.ca. The Notice provides you with your user identification number and your access key to enable your access to the MPAC site. You may also call MPAC for the information you may feel you need to evaluate the assessment information.

If you believe that the assessment you received is incorrect, there are two options: A Request for Reconsideration and an Appeal.

  • a request for reconsideration must be received by MPAC on or before March 31, 2013
  • it is intended to be an informal procedure by which the taxpayer’s claim is considered by MPAC and must set out the basis for reconsideration
  • you don’t need to use any particular form, however a form may be downloaded from the MPAC website
  • If MPAC settles the request, it must give a notice of settlement to the clerk of the municipality who then amends the tax roll accordingly. The municipality may object to the MPAC settlement, and may appeal to the Assessment Review Board within 90 days of receipt of the notice of the settlement
  • a request for reconsideration is now a condition precedent to an appeal – the appeal, if necessary, must be filed within 90 days after the results of the request for consideration
  • an appeal by the taxpayer from the result of the a request for reconsideration is made to the Assessment Review Board

You may pursue a Request for Reconsideration and an Appeal without the assistance of an expert. However, if you are proceeding with an Appeal, you might want to consider retaining a qualified property valuation expert or lawyer.

Think carefully before getting into it…although an assessment may be reduced or remain unchanged, it may also be increased. That may result in a tax increase and the fact that the January 2012 assessment may not accurately reflect today’s market value would not appear to be a valid reason to challenge the 2012 assessment. Food for thought…