(via City of Ottawa)
Every four years, the Ontario Municipal Property Assessment Corporation (MPAC) mails property assessment notifications to residential, commercial and industrial property owners providing them with the latest assessed value of their property.
MPAC will begin mailing property assessment notices for residential properties in Ottawa on July 18. Assessment notices for non-residential properties will be mailed in the fall of 2016. The last province-wide Assessment Update of Ontario properties took place in 2012 and was based on the valuation date of January 1, 2012. This update is based on the valuation date of January 1, 2016.
On average, Stittsville assessment values are up 5.03%, among the highest of any city ward. Kitchissippi (7.35%) and Rideau-Goulbourn (5.34%) are higher, and Kanata South has an average increase of 5.02%. The average increase across the city is 3.45%.
However – an increase in assessment value doesn’t necessarily mean your taxes will go up as a result. The assessment notice is not a tax bill and an increase in assessment does not necessarily mean the same or any increase in property taxes.
On Monday, City of Ottawa Finance staff and MPAC staff briefed members of City Council, their staff and the news media to explain the new assessments and their relation to property taxes. Here’s a copy of the slide deck from the presentation.
We’d like to hear from our readers: What are you seeing on your property assessment? Any big changes – increases or decreases? Add a comment below or email email@example.com