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Understand Property Tax

Who pays tax?

All property owners are obligated to pay taxes to the Municipality. Tax bills are issued to cover the costs of Municipality, County and educational services. Property owners must pay tax even if they don't use all the services provided.

The Municipality generally issues two tax bills each year. However, if your property is newly constructed or physical changes have been made to your property, you may receive additional omitted and supplementary bills that can be retroactive for the current year and the past two years.

What is an interim tax bill?

The interim tax bill, issued annually at the beginning of March, is for the first half of the year’s taxes. The amount levied is based on each property’s taxes for the previous tax year, because the Municipality is not able to pass the annual tax rate until later in the year. 

 Interim bills have two instalment dates and show any outstanding or credit account balance at the time of billing.

What is a final tax bill?

The final tax bill, issued annually at the beginning of September, is for the second half of the year and is based on the annual tax rate approved by the Municipality for that year. The bill is calculated by using the assessment value assigned to your property for the year, and applying the new tax rate determined by the year’s budgetary requirements for the Municipality, County and school boards (minus the interim taxes that were billed for the first half of the year).

Final bills have two instalment dates and show any outstanding or credit account balance at the time of billing.

What are supplementary and omitted bills?

Supplementary and omitted bills, issued throughout the year, are issued to owners of newly created properties or properties that have had physical alterations made that were not reflected on the interim and final bills. Generally, supplementary bills refer to the current tax year and omitted bills refer to previous years. You may receive three to four bills at different times throughout the year, depending on when the Municipal Property Assessment Corporation (MPAC) provides assessment information to the Municipality.

Supplementary and omitted tax bills have one instalment date that is shown on the bill, and do not reflect any previous account balance at the time of billing.

What are tax rates?

Tax rates determine how much property tax you pay, based on the assessed value of your property.  

The property tax rate is different depending on the class of property you own.

How the tax rate is set

When the annual budget is adopted by Council for the current year, they pass a Property Tax Rate By-law.

These By-law establish a tax rate for every taxable property classification based on:

  • the budget requirement (tax levy)
  • the property assessments returned by the Municipal Property Tax Assessment Corporation

The tax rate is calculated by dividing the tax levy requirement by the amount of property tax assessment to come up with tax rates for each class of property. 

 

 

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