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Tax Assessment Inequities Do Not Exist |
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Tuesday, 09 May 2006 |
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John Barber of the Globe & Mail (Tuesday, March 7, 2006) has stated in his article that an "assessment cap needed to halt property-tax inequities". The Ontario Assessment Act requires the Municipal Property Assessment Corporation ("MPAC") to assess all properties in Ontario at their correct current value. This is an objective test applied equally to all properties. In the past, an "assessment freeze" created a system where poor areas subsidized rich vicinities. Moreover, similar properties in different vicinities were assessed differently. This old system created inequities and different rules for different properties. The new system is more objective and fair. The Assessment Review Board is also available to hear cases and to correct any mistakes (owners can also file a Request for Reconsideration with MPAC). In cases of hardship the Municipal Act allows for tax relief in cases such as poverty, disability and sickness. The legislation is very good and the present sytem works very well.
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