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Why Pay?

With the complexity of today's tax system, careful consideration must be given to all strategic changes proposed for your property. Careful understanding of all consequences is necessary in order to minimize tax and optimize value. The precursor to Tax is the Tax Assessment Notice. Give us a call to discuss your upcoming assessment before it arrives to you. Regardless of when you approach us and if your property has been appealed, we may be able to help.

 

Often times, assessment values are pre-conceived and finalized without a proper and full understanding of the property. Information is often misunderstood, incorrect or is outdated to the point that its results create erroneous values. By giving us a call, we take that part of the uncertainty out of the value and ensure a sensible value is concluded. We will pursue the assessment to the Assessment Review Board and further if necessary. Our experience tells us that there is more reason then naught to question your assessment given the complexity of the current market and the constant flux of real estate. We believe that all assessments should be reviewed in order to ensure property values are not unfairly compromised.

 
ּ February 8th, 2012
Key Dates | Print |

PRA educates itself on COMPLEX TAX LEGISLATION, so that you don't have to

KEY DATES AND DEADLINES

The next reassessment is scheduled for 2013 where the effective date of CVA will be updated once again reflecting changes in the market place between CVA 2008 and CVA 2012.

 

November - Notices of Property Assessment reflecting the value of property for the current base year are mailed to property owners. 

 

A proactive approach requires time for data collection and review. Third party and tenant appeals also require additional notification protocols. Be sure to discuss this with your representative well in advance of the actual filing. A thorough review can be undermined if the process is started only after the return of the roll.

 

Be mindful of the following dates:


February 28th  - Owners to advise the Municipality of any prolonged vacancy that has occurred during the previous fiscal year. Unreported vancacies can cost property owners their entitlement to a 30-35% discount on the upcoming year's tax bill. It is not uncommon for the processing of the rebates to include costly errors unnoticed by the taxpayer.

 

Owner(s) may be eligible for municipal credits due to substantial changes to their property or 'Gross Manifest Errors'. In assessment, opportunity to claim credit for up to 2 years prior may produce substantial savings in some cases.

 

March 31st - Owner(s) are obligated to file appeals for the current year's property assessment with the Assessment Review Board (independent agency of the Ministry of the Attorney General).

 

Owner(s) have until the end of March to file a Request for Reconsideration for the current year's property assessment. Procedural issues can easily disqualify a complaint following exchanges.

 

NOTE: If your property, or part of it, is classified residential, farm managed forest or conservation lands, a Request for Reconsideration MUST first be filed with MPAC.

 

MPAC reviews its assessment and any further information that may be submitted by the property owner(s) to satisfy themselves that the assigned value is appropriate. For Commercial properties, there is no recourse to contest or appeal MPAC's determination unless the process is done in tandem with a formal appeal to the Assessment Review Board.  


Complaintants should be careful to ensure that all issues and adjustments are properly accounted for before signing any "Minutes of Settlement". Once signed, no further appeal may be filed relating to that specific complaint.