Assessment

Commercial ratepayers carry heftier tax share

Canadian Property Management

Commercial ratepayers carry heftier tax share

Commercial ratepayers took on a larger share of the property tax burden in eight of 11 large Canadian cities this year, with 2023 commercial tax rates more than tripling residential tax rates in six of those cities.
Ontario keeps clinging to 2016 market values

Canadian Property Management

Ontario keeps clinging to 2016 market values

The recent regulation to postpone Ontario's property reassessment for another year stretches the assessment cycle to double its originally intended time span.
NB cabinet shuffle shifts property assessment

Canadian Apartment Magazine

NB cabinet shuffle shifts property assessment

New Brunswick's newly announced cabinet shuffle responds to the recent departure of four provincial Ministers, two through resignation and two through dismissal.
B.C. boost assessment appeal filing fees

Canadian Property Management

B.C. boosts assessment appeal filing fees

Assessment appeal filing fees are jumping from $30 to $300 for British Columbia's commercial and industrial property owners, but remaining static for other property classes.
Reassessment ups Nova Scotia multifamily property values

Canadian Apartment Magazine

Reassessment ups NS multifamily property values

Many multifamily landlords in Halifax have seen a jump in their property values with Nova Scotia’s most recent reassessment based on January 2022 market values.
property tax

Canadian Property Management

Mill rate adjustments for Saskatchewan EPT

Saskatchewan's commercial ratepayers face an increase in the education portion of their property taxes due to a bump-up in the mill rate, but the spread across tax classes has been tightened.
property assessments

Canadian Property Management

New property valuation board slated for Manitoba

Manitoba is moving to establish a single entity to deal with property tax assessment appeals, compensation for land expropriation and applications for surface rights.
B.C. condo owners see rise in assessed value for 2022

CondoBusiness

B.C. condo owners see jump in assessed value

Surging values for single-family homes are far outstripping condo gains, but average assessed values for strata residential properties rose anywhere from 7 to 29 per cent across 19 jurisdictions in the lower mainland.
Light industrial set for a heavy property tax hit

Canadian Property Management

Light industrial set for heavy property tax hit

Economic fallout from COVID-19 is shifting more of the tax burden to this flourishing group of assets via the mill rate, while also driving up the tax rate, for a double-whammy of consequences in jurisdictions that update valuations annually.
condo security 

Canadian Property Management

Historic property tax disparity dismantled

As announced in the provincial budget, the Ontario government plans to equalize the business education tax (BET) rate at 0.88 per cent for 2021, equating to a $450-million tax cut province-wide.
Montreal property owners

Canadian Property Management

Complacency could cost Montreal property owners

Proposed changes to Quebec's Act Respecting Municipal Taxation will tighten the timeline for disputing the property values ascribed to smaller apartment and commercial buildings assessed at less than $3 million.
industrial property assessment

Canadian Property Management

NB confers on industrial property assessment

A standing committee of New Brunswick's legislative assembly is exploring whether equipment and machinery used in manufacturing and industrial processes should be factored into the assessed value of the property.
MPAC board

Canadian Property Management

Municipalities could lose clout on MPAC board

A new government means a new round of scrutiny for Ontario's property assessment agency.

Canadian Apartment Magazine

Furor over MPAC multi-res cap rates predicted

Assessment notices for nearly 16,000 Ontario multi-residential properties will be mailed out next week, delivering valuations determined for the first time with the newly adopted direct capitalization methodology.

CondoBusiness

Ontario’s new four-year assessment cycle begins

Ontario's Municipal Property Assessment Corporation (MPAC) reports province-wide residential property values have increased by an average of 4.5 per since January 2012.

Canadian Property Management

Ontario’s vacant unit tax rebate under review

The 2016 Ontario budget announces legislation is coming to "facilitate potential changes" to the property tax rebate on vacant commercial and industrial units.