2007&2008 Property Tax

Property Tax Assessments Frozen {재산세 과표 동결}
June 30, 2006 -- The provincial government has announced property tax reassessments by the Municipal Property Assessment Corporation (MPAC) will be cancelled for 2006 and 2007. This means that the current assessed values will be used for the purposes of calculating property taxes in 2007 and 2008.
The provincial action is in response to concerns raised by the Ontario Ombudsman, who made a number of recommendations to improve MPAC��s assessment methodology and appeal processes earlier this year. The Ombudsman launched an investigation of MPAC last fall after receiving numerous public complaints. The Ontario Real Estate Association participated in consultations held by the Ombudsman and expressed various concerns with MPAC and the assessment system. TREB also communicated with decision makers, indicating that problems exist with the assessment appeals process and that the MPAC system needs to be revamped to ensure more accurate assessments.
According to the provincial government, the cancellation of the 2006 and 2007 reassessments is intended to give MPAC the time it needs to consult on and implement changes to the system.
TREB will be monitoring this issue.