Property Tax Review Services http://www.propertytaxreview.com/ is a Stittsville based firm that helps businesses and consumers who want to make sure their property tax assessment is not too high and results in unfair taxes. This is very timely right now as MPAC ( the Municipal Property Assessment Corporation) has just sent out new assessments to some 5,000,000 property owners in Ontario. MPAC has a very comprehensive system but there are inconsistencies. With approximately only 240 MPAC assessment staff across the province, it is easy to see how some properties may be adversely affected or incorrectly assessed.
Could your property taxes be going up 20-45% ?
Given the uplift in real estate values over the last several years, some homeowners are facing phased in assessments as high as 45% and most are in the 20-25% range.
What do they do and what does it cost?
Historically, much of the company’s business has focused on industrial and commercial sectors but there is an increasing demand from residential homeowners as well.
The company will do a no charge review of a residential MPAC assessment and let a homeowner know if there is any likelihood of success with an appeal. If the homeowner chooses to formally appeal PTRS consultants will assist with the appeal, including a meeting with an assessor in order to obtain an assessment reduction. The fee for most cases is $500 + HST. Additional costs are incurred if the matter is pursued further to the quasi-judicial appeal tribunal.
Steps to take:
For more information or to request a free quote, see the company website at http://www.propertytaxreview.com/ Don’t wait too long though…the deadline for appeal applications to affect the 2013 tax year is April 1stand the typical appeal process can take 90-120 days.
A good first step is to review the MPAC site at www.mpac.caand www.aboutmyproperty.ca
If you would like to get an idea of the market value of your residential property for selling purposes or a listing readiness “report card”, don’t hesitate to call us for a no cost no obligation review.
Gord McCormick, Broker of Record
Dawn Davey, Broker
Oasis Realty Brokerage
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