Property assessment and Tax Notices are mailed every March 1st. For the 2018 taxation year, an assessment freeze is in place. This year, your property tax bill will show your 2017 assessed value and your 2018 assessed value. They should be the same. If they are not, it means you may fall into one of the exemption categories below:
Exemptions to the freeze include:
- a decrease in property values based on market forces;
- new construction and renovations;
- errors or omissions of property data resulting in a correction to the 2018 valuation;
- real estate/property sale or transactions;
- a change in current use/classification of the property (i.e. the subdivision of property or a change in occupancy) resulting in a change in property valuation;
While the provincially assessed property value will remain at the 2017 level, a change to the tax rate set by your local government may impact the amount of property tax you owe.
If you have any questions, contact your regional assessment office.