The City of Oshawa is bemoaning that it is not able to get as many dollars from new construction because of outdated property valuation.
Ontario’s municipalities calculate property taxes based on the most recent property assessment as determined by Municipal Property Assessment Corp. (MPAC), using the valuation date of January 1, 2016.
“With the review still ongoing, the value of any new properties added to the city’s assessment base, either from new buildings or changes to existing ones, must be adjusted to what they would have been worth on January 1, 2016,” the city pointed out.
“As a result, Oshawa is unable to realize the full value of new construction. For example, in Oshawa, for every dollar of assessment increase in 2022, only $0.43 is added to the assessment base,” said the city in its budget approval statement (see below).
It said the return of the reassessment cycle:
- May result in lower tax rates;
- Stabilizes and makes taxes more predictable;
- Accurately distributes taxation amongst property owners; and,
- Supports strong communities.
Reassessments are normally completed every four years, but in early 2020 the Province of Ontario paused the reassessment process due to the Covid-19 pandemic. In 2023, the province announced they would be conducting a review of the property assessment and taxation system that would focus on fairness, affordability and business competitiveness and modernized administration tools, and that property reassessments would remain delayed until the review was complete.
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We’ve heard this kind of garbage from all kinds of people look at John Henry when he was mayor we hear the same stuff but now where’s John Henry he runs all of Durham so…
John Henry previous mayor of Oshawa now Chief and Commander of all of Durham makes no sense to me.
All I know is what we’re in the top four four highest taxes You know the Saying for Oshawa be prepared to get it up the poop shoot