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Understanding Your Tax Bill
Who pays tax?
All property owners are obligated to pay taxes to the town. Tax bills are issued to cover the costs of Township, County and school boards. Property owners must pay tax even if they don’t use all the services provided.
The Township generally issues two tax bills each year. However, if your property is newly constructed or physical changes have been made to your property, you may receive additional omitted and supplementary bills that can be retroactive for the current year and the past two years.
What does my tax bill show me?
Bills issued by the Township contain the following information:
The name(s) of the property owner (if there are multiple owners, only the first two will appear)
Assessed value and tax class assigned by the Municipal Property Assessment Corporation (MPAC)
Account number, roll number and legal description of the property
Breakdown of the tax bill payable to the Township, County and school boards
Account balance at the time the tax bill is produced (except on omitted and supplementary bills)
Amount of each tax instalment and the date on which each is payable
What is an interim tax bill?
The interim tax bill, issued annually at the end of January, is for the first half of the year’s taxes. The amount levied is based on each property’s taxes for the previous tax year, because the Township is not able to pass the annual tax rate until later in the year. The amount is calculated by multiplying the assessment value assigned to property for the year by a notional tax rate that restates the previous year’s budgetary requirements for the Township, County and school boards, and then dividing that product by two.
Interim bills have two instalment dates and show any outstanding or credit account balance at the time of billing. They are payable on or before February 28 and May 30, 2014.
What is a final tax bill?
The final tax bill, issued annually at the beginning of August, is for the second half of the year and is based on the annual tax rate approved by the Township for that year. The bill is calculated by using the assessment value assigned to your property for the year, and applying the new tax rate determined by the year’s budgetary requirements for the Township, County and school boards (minus the interim taxes that were billed for the first half of the year).
Final bills have two instalment dates and show any outstanding or credit account balance at the time of billing. They are payable on or before August 29 and November 28, 2014.
What are supplementary and omitted bills?
Supplementary and omitted bills, issued throughout the year, are issued to owners of newly created properties or properties that have had physical alterations made that were not reflected on the interim and final bills. Generally, supplementary bills refer to the current tax year and omitted bills refer to previous years. You may receive three to four bills at different times throughout the year, depending on when the Municipal Property Assessment Corporation (MPAC) provides assessment information to the Township.
Supplementary and omitted tax bills have one instalment date that is shown on the bill, and do not reflect any previous account balance at the time of billing.
Realty (property) taxes are levied by the Township.
Taxes provide the main source of revenue to deliver services supplied by the Township, the County and local school boards.
Properties are assigned a tax class depending on the use or purpose of each property. Annual tax rates are set and applied to each tax class. The tax levy for property is calculated by using the applicable tax rate and the assessed value assigned to each property.
For more information about your property taxes, contact the Finance/Tax Department.
The assessed value of a property is commonly referred to as the current value assessment or CVA. The CVA is an estimate of the market value of a property at a fixed point in time (the valuation date), or the amount the property would sell for in an open market on a given date (i.e. what a willing buyer would pay a willing seller for the property).
In Ontario, the Municipal Property Assessment Corporation (MPAC) assigns the assessed value and tax class to all properties every four years. Municipalities have no authority to assign, alter or change the assessed value or tax class of property.
For more information visit MPAC at:
1-866-296-6722 or click for here to visit their website.