Russell & Ward

Many Ontario property owners have received their 2009 property assessment from MPAC. The base date of valuation used for 2009 assessment is January 1, 2008. The 2008 value will form the basis of assessment from 2009 to 2012. Increases in value above the 2005 values will be phased in over the four (4) year assessment cycle (25% per year).

The phase-in does not apply to assessment decreases. Decreases in property values are effective immediately for property tax purposes. This year's assessment notice was revised to include additional information concerning the 2005 and 2008 values and phase-in details.

The average increase in property values across Ontario for the 2009 assessment was 20% which will be phased in at a rate of 5% per year until 2012 for property tax purposes. In addition, the assessor now has the obligation to prove the assessment is correct rather than the taxpayer having to prove the assessment is wrong.

Applications for Requests for Reconsideration to review assessments now have a right of appeal to the Assessment Review Board. The deadline date for application for Request for Reconsideration is now March 31, 2009. The deadline date for appeal of assessments is March 31, 2009. For more information on the 2009 assessment you can visit MPAC's website at http://www.mpac.ca/