Treasury Department

Asset Management Plan for the Municipality of Powassan

To view the 2013 asset management plan for the Municipality of Powassan please click here- 2013 Asset Management Plan .

Property Tax Rebate

This rebate program provides tax relief to property owners who have vacancies in commercial and industrial buildings. The Municipality will issue rebates to owners who submit a Commercial/Industrial Vacancy Rebate application according to the instructions by February 28th of the year following the vacancy.

Property owners who are eligible for a rebate may submit an application to the Municipality for each year that a building or portion of a building is vacant for at least 90 consecutive days.

Property owners or their authorized representative must return the application completed and signed to the Municipal office, making sure that the questionnaire is totally completed. Any additional documentation should be submitted such as expired leases or media advertisements, utility records, or any other material, that would substantiate the application.

Property Taxes & Assessments

Property taxes are calculated based on the assessment value of your home or business calculated by the Municipal Property Assessment Corporation (MPAC) and the tax levy needed to meet the required municipal expenditures for the year.

At the beginning of each year Council reviews the financial position of the municipality. They also review proposed projects combined with the community needs to determine the amount of revenues that must be generated to cover the expenses, as every municipality must have a balanced budget (revenues equal expenditures). Revenues are raised through user fees, planning fees, and service charges. The new Municipal Act, 2001 stipulates that most user fees must be cost recovery only. This leaves little room for a municipality to raise monies from sources other than property taxes. Therefore, property taxes are the main source of revenue for municipalities.

The total amount of tax revenue required is then divided by the total property assessments for the Municipality and thus a “tax rate” is determined. The rate is applied to the assessment value to come up with the current taxes for the ratepayer. For example, if a home is assessed at $100,000 and the tax rate is $.012003, the taxes for the year would be $100,000 x .012003 which equals $1,200.30.

If a homeowner feels his assessment is incorrect then he must submit a Request for Reconsideration form to MPAC. MPAC will review the ratepayers concerns and then make the necessary adjustments to the value of the property. A copy of any adjustments is then forwarded to the Municipality and the appropriate changes made to the taxes if that particular year.

If you have any questions regarding your tax or utility account please feel free to contact the Treasurer at mlang@powassan.net

Payment Options

The Municipality of Powassan makes it very easy for residents to pay their tax and utility bills. The Municipality takes money orders, cheques, cash, online payments or debit transactions as a means of payment.

Payment can be made using the mail, visiting the office at 466 Main Street, using the drop off box located at the side of the main entrance or submitting post-dated cheques to the office.

Other methods include the Pre-authorized Payment Plan which provides 11 automatic payments from your bank to cover yearly taxes and online payments of both taxes and utilities.

Using the On-line Payment Method

If you have access to online banking through your regular financial institution then you can pay your tax and utility bills on-line. When doing so you must know your account number to avoid any errors.

Each account number should start with the municipal identification numbers. The Municipality of Powassan’s is 49 59.

For example when your tax bill comes in the mail, the top will indicate your account as 49 59 010 001 01000 0000. This number must be typed into your on-line service account, minus the spaces.

When your utility bill arrives it will only indicate 010 001 01000 0000 as your account number. You must then add a “w” to indicate it is a utility account and the 49 59 for the municipality then your stated account number. Therefore, W49590100010100000000 would be typed in for the above account.

Pre-authorized Tax Payment Plan

The Pre-authorized Tax Payment Plan offers the convenience of no cheques to write, no stamps or envelopes, no worries about overdue payments, no large lump sum payments and no line ups at your bank or municipal offices. We are sorry, but currently this service is not available for utilities.

We offer one convenient plan that takes ten (10) monthly installments for taxes directly from your bank account and credits it to your property tax account. No interest is charged on outstanding balances month to month as during the course of the year, your taxes are paid in full. The withdrawal from your account occurs on the first business day of each month.

Our Pre-authorized Tax Payment Plan runs from January to November. The first seven monthly payments are based on the previous year’s tax levy divided by 11. The final four monthly payments are adjusted to reflect the actual taxes for the year based on any changes to assessment values or tax rate changes.

Example: Previous year’s property taxes $1,100 January through July monthly payments $ 100 Current year’s property taxes $1,200 Less total payments (January to June) $ 700 Balance owing $ 500 August through November payments ($500/4) $125.00

Payments may only be made by automatic withdrawal from an account with chequing privileges at a financial institution.

You can join the plan if:

  1. you are a property taxpayer in the Municipality; and
  2. your tax account is in good standing and has no arrears; and
  3. you do not presently pay your taxes through a mortgage company.

Application forms can be obtained from the Municipal Office. When returning the Pre-authorized Tax Payment Plan Authorization Form please ensure the property address and roll number are written on all correspondence, it is signed and you have included a cheque marked "VOID". Please either mail or deliver your application and attached cheque to the Municipal Office at 466 Main Street, PO Box 250, Powassan, Ontario, P0H 1Z0.

Charity Rebate Program

Legislation passed by the Province of Ontario requires municipalities to provide eligible charities with rebates of at least 40% of their property taxes.

Charities will be eligible for this mandatory rebate if they have a valid registration number issued by Canada Revenue Agency, and if they are occupying commercial or industrial property. Charities who are tenants of business property will be eligible for the rebate in the same way as property owners.

Applications must be made between January 1 and the end of February of a particular year for the rebate on the previous year's total taxes.

Registered charities must apply annually for the rebate by completing an application and returning it to the Municipality of Powassan by the due date.

Download/view the Charity Tax Rebate Application form.

 

Financial Statements

2012 Financial Information Return and Performance Measures

2012 Consolidated Financial Statement

Audited Financial Statements 2013

2014 Financial Statement

2015 Financial Statements

 

Water System Financial plan:


The Municipality of Powassan's water system financial plan is available to download by clicking the below link:
Municipality of Powassan- Water System Financial Plan

 

2008 Accessibility Policy - To be updated 2014

 

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The Municipality of Powassan
466 Main Street PO Box 250 Powassan, ON P0H 1Z0 | Phone: 705-724-2813 | Fax: 705-724-5533 | info@powassan.net

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