Property owners recently received tax assessment notices that will affect the 2006 tax year. The valuation is based on property values as of January 1, 2005. The valuations are conducted by the Municipal Property Assessment Corporation (MPAC). Local property sales occurring around the date of assessment provide a basis as to the assessed value of similar, unsold properties. The Assessment Act requires that the assessed value of your property be based on what today's property would likely sell for on a specific date (January 1, 2005 for the 2006 tax year).

To determine if your assessed value is correct, ask yourself if your assessed value is close to what you would have expected to sell your property for in January of 2005.

The assessment is only half of the tax equation. The amount of tax you pay depends on the mill rate set by the municipality. The mill rate for the tax year 2006 has not yet been established. Therefore, it's impossible to determine if your taxes will go up, down, or stay the same until the mill rate is established.

What To Do If You Disagree With Your Notice

1. The first step is to call the MPAC office in your area and speak to an assessor, in order to discuss your assessment or verify details about your property.

2. The second step, in the event you can't resolve the situation to your satisfaction, is to make a "Request for Reconsideration." There is no fee and the request may be made at any time during the year. You can find applications on the MPAC web site (www.mpac.ca).

3. If still not satisfied, you can file an "appeal" to the Assessment Review Board (ARB). The deadline for this appeal is March 31, 2006. Both the property owner and MPAC will be asked to appear at a hearing to present evidence to support their arguments. The decision of the Board is final and binding on both parties.

You can find out more about assessment appeals on the ARB web site at: www.arb.gov.on.ca or by calling their toll free number at 1-800-263-3237.

For more information on how properties are assessed go to the Municpal Property Assessment Corporation's web site at: www.mpac.ca.