Property tax is the chief mechanism used by city administrators in Toronto to raise funds. In fact, property tax itself accounts for a staggering 40% of all tax revenue raised in the city in any one financial year.
However, in recent years, Ontario property tax legislation has been altered and amended significantly in order to streamline the property tax assessment processes. At the same time, because property tax assessments themselves are based on municipally assessed property values, it is not uncommon for residential and commercial property owners to be issued erroneous tax bills. Worse, if an assessment error is not corrected, this can influence future property tax rates for years to come.
Challenging your Property Tax Assessment
Thankfully, at GK Law, we can help you file a “Request for Reconsideration” in regard to your present and future property tax liabilities.
Section 44 of Ontario’s Property Tax Assessment Act makes it clear that any property must be assessed with respect to similar properties in the immediate local area. This being the case, and with assessed values often being greater than actual land and property purchase prices, we can help you identify errors in classification of your property. If successful, we can then help you qualify for assessment reductions and rebates accordingly.
How Challenging a Property Tax Assessment Works
As a rule, Ontario’s Municipal Property Assessment Corporation (MPAC) will always try to prevent property tax reconsideration actions going as far as the corporations Assessment Review Board. However, at GK Law, we have extensive experience representing clients before both the Assessment Review Board and in subsequent Divisional Court proceedings. This is because we are always able to present expert evidence and witness testimonials which support each of our client’s claims for reconsideration in the first place.
Of course, if we feel that you don’t have a case to be made in regard to your present property tax assessment, we will inform you of this prior to you investing resources in taking a claim as far as the MPAC Assessment Review Board.
Our Clients & Successes
Because of our expertise in regard to property tax law in Toronto, we routinely work with a variety of residential and commercial property owners. These include multi-residential property owners, development corporations, and industrial property owners. Moreover, with each of our clients, we draw on experts in property appraisal and valuation fields in order to help form the basis of any reconsideration claim.
Do you think that you might have been a victim of an unfair property tax assessment? If so, make sure to start asserting your right for a reassessment and reach out to us at GK Law today in order to discuss your specific case in more detail.