2005 Interim Tax Bill Facts
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QUESTIONS:
How was my 2005 interim tax bill calculated?
What are the assessment class/property codes on my bill?
What is the interim tax billing adjustment?
What is the Provincial Reassessment Program?
When will I receive an Assessment Notice?
Why did I receive an Assessment Notice in 2004?
Where can I find out more about my property's assessment?
Who can I talk to about my 2005 interim tax bill?
ANSWERS:
How was my 2005 interim tax bill calculated?
A: To calculate your bill, we did two things:
- Multiplied the assessed value of your property by the 2005 interim tax rates and then compared that amount to your 2004 tax final tax bill.
- If the resulting amount was more than 50% of your 2004 final tax bill, we made an adjustment to ensure the amount of your 2005 interim tax bill is no more than 50% of your 2004 final bill.
In 2004, some properties were billed taxes for only part of the year because assessment was added during the year. In this case, we used a restated 2004 tax levy to calculate your 2005 interim tax bill. The restated 2004 tax levy includes the additional taxes that would have been levied if the property had been levied for the entire year. For properties not billed taxes in 2004, we multiplied the assessed value of your property by the 2005 interim tax rate to calculate your 2005 interim tax bill.
Past due amounts on this tax bill include pre-calculated interest, which is due if your account was not paid up before January 31. Actual interest will be charged to tax accounts for past-due amounts on February 1. If you made a payment on your account between the billing date and January 31, call Taxation Services at 546- 4291, ext. 2015 for an updated balance before paying your 2005 interim tax bill.
What are the assessment class/property codes on my bill?
A: Assessment codes determine the appropriate tax rate(s) and school support that will be applied to your property.
- First letter: represents the tax class: R - Residential, F - Farm, T - Managed Forest
- Second letter: represents the tax liability: T - Full Taxable
- Third & fourth letters: represent school support: EP - English Public; ES - English Separate; FP - French Public; FS - French Separate; N - No Support*
* School tax levies resulting from No Support are distributed to school boards based on enrolment factors supplied by the Province of Ontario.
What is the interim tax billing adjustment?
A: This adjustment prevents your interim taxes from being more than 50% of your total 2004 tax bill. If your tax bill has this adjustment, it may mean your property assessment has increased because of the provincial government reassessment program.
What is the Provincial Reassessment Program?
A: All properties in Ontario are assessed by the province's Municipal Property Assessment Corporation (MPAC). We use the assessed value of your property to calculate your municipal property taxes.
When will I receive an Assessment Notice?
A: MPAC cancelled the annual assessment update of all properties in Ontario for 2004 to allow for a smooth transition to a new valuation date. In the fall of 2005, each property owner will receive an Assessment Notice from MPAC advising of the updated assessed value of their property. We will use this updated assessment value to calculate your 2006 taxes.
Why did I receive an Assessment Notice in 2004?
A: MPAC sent Assessment Notices in the fall of 2004 to owners whose property had undergone a change since the last assessment notice. You may have received a Notice if your property's assessed value changed because of an improvement made to your property.
MPAC sent Notices to reflect other changes including ownership changes, Request for Reconsideration and Assessment Review Board adjustments, name changes, changes in property classification, school support changes
Where can I find out more about my property's assessment?
A: Further information about your property's assessment can be obtained from the Municipal Property Assessment Corporation (MPAC) web site at www.mpac.ca or by Toll-Free Number: 1-866-296-MPAC (6722).
Who can I talk to about my 2005 interim tax bill?
A: If you have any questions about your 2005 interim tax bill, you can speak with one of our Customer Service Representatives by calling 546-0000.
