Revenues and Taxation
The Treasury Department is responsible for all property tax related matters, along with accounts receivable.
- Tax billing
- Maintain automatic payments
- Issue revised and supplementary tax billings
- Maintain assessment roll with current ownership and address changes
- Process reductions as authorized by the Assessment Review Board (ARB) and the Municipal Property Assessment Corporation (MPAC)
- Provides information daily to property owners, banks, lawyers and general public
- Requisition for payments-in-lieu of taxes
- Collection of arrears
- Initiate tax sale
- Provide information regarding legislation and regulations pertaining to the Municipal Act as it relates to taxation
- Assist with collections from parking meters and transit department
Calculating property taxes
Property taxes are calculated by multiplying the current value assessment (CVA) of a property by the applicable tax rate.
The Municipal Property Assessment Corporation (MPAC) is responsible for accurately valuing and classifying properties in Ontario.
The 'Property Assessment Notice' issued by MPAC shows the assessed value of your property based on a January 1, 2016 valuation date. CVA increases from 2012 to 2016 were phased-in over the next four years (2017-2020) and CVA decreases were realized right away (beginning in 2017). The January 1, 2016 assessed value will continue being used due to the postponement of the assessment cycle which has been delayed by the Province since 2020.
Taxes for residential properties are calculated as follows:
(Phased-in CVA x Total Tax Rate) = Property Taxes due for the year
For example:
($100,000 x 0.01705712) = $1705.71
If your property has had a change in assessment in any of the four years, the billings will be adjusted accordingly.
Should you have any questions regarding your property's assessed value, please call MPAC toll free at 1-866-296-6722 or on-line at www.mpac.ca
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