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Property Taxes

 
Learn how your property taxes are calculated and how your property value is assessed.

Overview

Your total property tax bill provides for more than just the cost of Regional services. The Region, like the city or town that you live in, prepares a budget each year, with a large part of the operating costs funded through property taxes.

The Region considers it very important for taxpayers to understand what services they receive for their tax dollars and how their tax dollars are being spent.

How is my property tax calculated?

Your property tax is calculated annually using your property's assessed value, as found on your Property Assessment Notice, and the Council-approved property tax rate.

How is the value of my property assessed?

The value of your property is assessed by the Municipal Property Assessment Corporation (MPAC) (external link), the largest assessment jurisdiction in North America responsible for assessing more than five million properties in Ontario.

There are five major factors that generally account for 85 per cent of your property value:

  1. Location
  2. Living area
  3. Age of property
  4. Lot dimensions
  5. Quality of construction
 

MPAC's role is to accurately assess and classify all properties in Ontario in compliance with the Assessment Act and regulations set by the Government of Ontario. The accuracy of these assessments help ensure property owners pay their fair share, and nothing more.

This video shows how the value of your property is assessed:


How is the property tax rate calculated?

Each year, Regional Council approves the budget needed to support Regional services. This budget informs the determined property tax rate and is based on many factors, including citizen priorities, assessments and valuations.

How does the 2016 reassessment affect my taxes?

In 1998, the Province introduced the Current Value Assessment (CVA) method of property taxation for all properties across Ontario. The purpose of this assessment, conducted every four years by the MPAC, is to:

  • ensure properties are assessed using current market values
  • recalculate municipal tax rates based on revised assessment values
  • spread increases in assessments over four years
  • shift property taxes burden between properties based on the revised values
 The most recent reassessment reflects a legislated valuation date of January 1, 2016.

How will the reassessment affect my 2017-2020 taxes?

The Region experienced higher market value increases than the province as a whole.  The 2016 reassessment reflects a legislated valuation date of January 1, 2016, for the 2017-2020 property tax years, resulting in a Region-wide increase of 27 per cent over the 2012 assessment, as seen below.

Property class January 1, 2012 valuation January 1, 2016 valuation Percentage change
Residential $ 92,531,175,412 $ 118,211,601,665 27.75%
Multi-residential $ 2,380,884,400 $ 3,254,465,000 36.69%
New multi-residential $ 35,506,000 $ 45,466,300 28.05%
Commercial $ 13,751,169,544 $ 16,427,671,700 19.46%
Industrial $ 2,789,354,388 $ 3,683,994,470 32.07%
Pipe line $ 227,022,000 $ 252,026,000 11.01%
Farm $ 853,473,949 $ 1,084,082,500 27.02%
Managed forest $ 40,188,345 $ 58,985,000 46.77%
Total taxable CVA $ 112,608,774,038 $ 143,018,292,635 27.00%
The reassessment does not result in an increase in total property taxes collected by municipalities. Municipal tax rates are recalculated such that the same amount of total municipal taxes is collected based on the revised assessment values. The reassessment does, however, result in shifts in property taxes between properties. Generally, if a property’s CVA increases more than the average increase in CVA, that property will experience an increase in property taxes. Conversely, if a property’s CVA increases less than the average increase, that property will experience a decrease in property taxes.

What if I'm having trouble paying my taxes?

If you are a residential property owner experiencing financial hardship, there are a number of programs offering assistance including:

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