Property Assessment Notices
Residential property assessment notices were mailed by MPAC on June 27, 2016. All other property type assessments, including industrial and commercial properties, were mailed on October 18, 2016.
The cycle, which runs from 2017-2020, will see properties assessed based on what the property was worth as of January 1, 2016. If a property’s value has increased since the last assessment in 2012, that increase will be phased in equally over four years. If the assessment has decreased, that change will be recognized immediately.
In the Town of Oakville, residential property values have increased by approximately 28 percent. With MPAC’s four-year phase-in program, property owners will see an average assessment related increase of 7 percent each year of the phase-in period.
If property owners do not believe their assessed value or classification is accurate, they may ask MPAC to review their assessment through the request for reconsideration (RfR) process, by October 25, 2016 for residential assessments, and February 15, 2017 for all other property types. MPAC will review the assessed value and classification of a property for accuracy and make appropriate adjustments if an error has occurred.
For more information about your property assessment notice, your assessed value or about assessment in general, please contact the local MPAC office at 1-866-296-MPAC (6722), 1-877-TTY-MPAC (TTY) or visit the MPAC website.
Frequently Asked Questions
My 2016 assessment value has increased 30 per cent over the previous 2012 value. Does this mean that my taxes will increase by 30 per cent?
No. Just because your 2016 assessment value has increased by 30 per cent does not mean your tax bill will increase by 30 per cent. Property taxes are based on two factors: assessed value and tax rate.
- Assessed value (or CVA)
Your 2016 assessed value increase needs to be compared to Oakville’s “average increase” which is 28 percent. If it’s below this average, you will see a tax decrease due to reassessment, if it’s average there will be no change, and if it’s above you will see a tax increase due to reassessment.
- Tax rate
Residential property taxes are calculated using your assessed value, the town’s tax rate, the region’s tax rate, and the education tax rate, which is set by the Province of Ontario. These rates are not known until the current year’s budget and tax policies are finalized, and the effects of any provincial legislative changes are determined.
The town’s tax rate is determined by Town Council through the budget process.
Only by applying the current year’s tax rates to your assessed value will you know the overall impact on your property taxes.
What does the “phase-in” period mean?
The CVA phase-in period is a four-year cycle. It means that if your property assessment value increased 30 per cent, the increase will be incremental at 7.5 percent over four years (2017-2020) so you won’t be taxed on the full 2016 value until 2020.
For example, the last CVA was done in 2012. Since 2017 is the first year of the current phased-in (2017-2020) assessment program, your 2017 tax bill reflects the first phased-in value of this reassessment program determined by MPAC.
How do I determine if the value placed on my property seems fair/right?
A good test is for property owners is to ask themselves if the value of the home on the statement equals to what the house would have sold for as of January 1, 2016. If the answer is yes, then the assessment is accurate. If not, property owners can ask MPAC to have another look at the assessed value by applying for a Request for Reconsideration (RfR).
What if I disagree with my assessment value?
For the 2017 to 2020 taxation years the value assigned to your property is based on the January 1, 2016, current market value. MPAC has made changes to the deadline for RfR and/or appeal dates. Property owners now have 120 days from the issue date of their 2016 property assessment notice to file for an RfR and/or appeal. For residential property owners who receive their notice in June 2016, the date for appeal is October 25, 2016. For all other property owners who receive their notice in October, the date for appeal is February 15, 2017.
How can I find out the assessed value of my property or properties similar to mine?
You can use the MPAC About My Property website to search comparable assessment values. Instructions for using the tool are provided for you. Remember that January 1, 2016 phased-in assessment values are used for taxation purposes for tax years 2017 to 2020 inclusive. For further information on the About My Property service, please visit the MPAC About My Property website.
Who do I contact if I have questions?
If you have questions about your Property Assessment Notice, assessed value or about assessment in general, please contact the MPAC office, toll free at 1-866-296-6722 or by fax at 1-866-297-6703. You can also visit the MPAC website.
If you have any questions about your municipal property taxes or municipal tax rates, please contact the Town of Oakville by phone at 905-338-4222, by fax 905-815-5964; or by email firstname.lastname@example.org.