PROPERTY TAXES & ASSESSMENTS
Tax bills will be delayed this year. Click here for more information.
Your property tax is calculated using two key elements:
- The assessed value of your property
- The general tax rate and area rates for your specific community
Current rates are as follows:
- Residential: $0.853/$100 of Assessed Value
- Commercial: $2.287/$100 of Assessed Value
The 2022 Property Assessment Notices have been sent out from Property Valuation Services Corporation (PVSC). It is important to note that all property owners have the right to appeal their property assessment if they disagree with the assessment, ownership or classification of their property.
Any appeal has a strict deadline, as indicated on the assessment notice. If you plan to appeal your assessment with PVSC, ensure that you do so before the deadline.
In 2022, many residents are experiencing significant increases in assessment values, and the Capped Assessment Program (CAP) rate for the year has been set at 5.4% by PVSC. This is a rate that is larger than what we have become accustomed to in recent years, especially when compared to the CAP increase of only 0.3% last year.
If you require further information about property assessment, including the CAP program and appeal process, please visit www.pvsc.ca.
Property assessments and potential tax revenue for the Municipality, like any other year, will factor into the 2022/23 budgeting process and will influence the proposed municipal activities, projects, and tax rates that are approved by Council.