Property Tax BulletinOntario - September 2024
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Reassessment Delay - 2016 Valuation Date Issues
Regular reassessment of property is critical to Ontario’s property tax system. The use of January 1, 2016, as the valuation date of property for 9 consecutive years is unprecedented and has fundamentally compromised the fairness of property taxation in Ontario. Importantly, we have identified property tax savings opportunities which have materialized due to this delay. |
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2024 Municipal Tax Refund Application Opportunity
We are currently realizing property tax refunds from refund applications we filed last year. These applications have historically produced substantial tax refunds for our clients and our recent success continues to validate our unique approach to these applications. Annually, there are new opportunities to reduce your property’s tax burden. Your property may be eligible for 2024 property tax refunds due to repairs & renovation, change in use, demolition, gross errors in the taxation, or charity and heritage status. |
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Errors in Property Tax Assessments
Errors in property tax assessments are inevitable due to the limitations of the mass appraisal of property. With almost 6 million properties annually assessed in Ontario, this translates into many thousands of errors. While taxpayers generally address these errors through their annual right of appeal, section 40.1 of the Assessment Act offers an alternative remedy for multi-year errors. This provision allows taxpayers to seek property tax relief for an indefinite number of years. Recently, a taxpayer retroactively obtained tax refunds for 11 years using this provision. We will review your assessment to identify any qualifying errors and help you secure associated property tax refunds. |
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Municipalities are Filing Property Tax Appeals
While the reassessment delay has produced property tax savings opportunities it has unfortunately created many new challenges for taxpayers. One particularly regrettable impact is the increased participation by municipalities in the property tax assessment appeal process. Notably, this includes filing property tax assessment appeals with the objective of increasing the property tax of targeted properties. Often represented by lawyers, who rely on evidence from appraisers and valuators retained by the municipality, this strategy has produced financial windfalls for municipalities at the expense of individual taxpayers. Fortunately, our Property Tax Services team, comprised of lawyers, appraisers, and expert valuators, has a proven track record of successfully contesting municipality-initiated appeals. |
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MPAC Property Income and Expense Returns (PIER)
You may have recently received a request from MPAC to provide property specific income and expense information. If you have any questions regarding this process, or require assistance in responding to these requests, please contact us. |
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Property Tax Services Our primary objective is assisting our clients in maximizing their property tax savings. |
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Property Tax Assessment Appeals Representation provided by experienced lawyers dedicated to property tax and assessment appeals consistent with the requirements of the Law Society of Ontario & the Assessment Review Board. |
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Property Tax Grants & Incentives Property Tax Grants & Incentives Capitalize on property tax refund or savings opportunities from tax incentive grants, refunds, or reductions pursuant to the Municipal Act, the City of Toronto Act, and municipal by-laws. |
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Property Tax Refund Applications Recognizing the nuance and complexity of municipal and assessment legislation, our lawyers pursue all potential opportunities to obtain property tax refunds. |
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Property Tax Budgets & Estimates Considering economic forecasts, assessment policy, property tax law, and municipal budgets, we provide comprehensive annual property tax budgets and estimates. |
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Property Tax Exemptions Identifying advantageous tax classification apportionments to reduce property tax liabilities and advice regarding the interpretation of leases and resulting property tax allocation. |
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Maximize the potential of property and real assets to accelerate
the success of our clients, our investors and our people. |
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