: What to do about your 2005 Assessment: advice from WRAFT:

You have now received your 2005 property assessment? Are you in shock?

If you would like to know what you can do about this NOW annual event...READ ON!

First step is to ask yourself...does the assessed value reasonably represent the amount you might have expected your property to sell for as of January 1, 2005. If the answer is YES, it could be difficult to achieve any change either by talking to the assessor or making a formal appeal.

If the answer is NO or you feel your property has been overvalued relative to properties you think are comparable to yours, this is what you can do. A great deal of the following information is available on-line at www.mpac.ca or at 1 866 296 6722.

1.
Property Profile

Phone an MPAC assessor at 1-866-296-6722. Identify your property by its roll number shown on the Property Assessment Notice. Verify the physical characteristics of your property with the assessor...i.e. shoreline, lot size, number and size of buildings, and so on. Be sure that any negative characteristics of your property are included. You have a right to this information, and will not be charged for it. If you find errors, ask if the error would have any impact on the assessed value of your property. If yes, ask for a new assessment to be mailed to you. If you choose to, you can register with MPAC by phone and obtain a USERID and password that can be used to access your "Property Profile" on-line.
2.
Comparables Report

In order to determine the market value of your property, you will need to know the selling prices of similar properties in your area. Look around your lake and try to find a property that has recently sold and compares to yours. Look through the real estate listings to find a similar property. This is the hard part for owners. It is also difficult for MPAC assessors, without an on site appraisal to evaluate the significant differences in waterfront properties. To assist you in determining whether your assessment is correct, MPAC will provide you, at no cost, with assessment information on up to 12 properties. MPAC will select 6 and you may select 6. Each additional assessment to which you wish to be compared will cost you $14.00. (In either case, when you specify which properties you want assessment information about, you must provide the address of that property.) To obtain this Comparables Report on your own property, you must provide your roll number, address and owner's name and contact MPAC by one of the following methods:
1. www.mpac.ca and follow AboutMyProperty
2. email: enquiry@mpac.ca
3. FAX: 1 866 297 6703
4. Mail:
The Municipal Property Assessment Corporation
Attention GRAD Program
P.O. Box 9808
Toronto, ON M1S 5T9
5. DO NOT PHONE - VERBAL REQUESTS ARE NOT ACCEPTED
3.
Assessment Appeal

Every owner has the right to appeal. There are two appeal processes available.
FIRST - Request for Reconsideration:

If you believe that your assessed value is inaccurate, you can request a review at any time before December 31, 2006. There are two ways to do this. Complete a Request for Reconsideration form which you can download from the web site, request by phone or mail...see numbers above. OR you can write to MPAC requesting a review. In any communication, include your roll number, address and the owner's name. Include ANY information such as some unusual aspect of your property, which might help your appeal.
SECOND - Notice of Complaint with the Assessment Review Board (ARB)

The ARB is an independent tribunal of the Ontario Ministry of the Attorney General. There are specific forms and a $75.00 charge to do this. The forms are available on line at www.arb.gov.on.ca or by calling 1 800 263 3237 or 416 314 6900. This Notice of Complaint must be filed by March 31, 2006. A well documented appeal with appropriate comparables might well win your appeal!

If your appeal is successful, MPAC will mail Minutes of Settlement to you showing the revised value. If you agree with the revised value, sign the Minutes and return them to MPAC. MPAC will then notify your municipality and they will make the necessary assessment adjustments.

In a rural setting, there are some additional factors to consider. Such as, but not limited to, age and condition of buildings, condition and length of access road, winter usability, road access, and of course, the accuracy of your property profile.