Property Tax Experts
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Property tax in Canada is generally based on two factors:
1. The property’s assessed value, as determined by the local
assessing authority; and
2. A tax rate, as set by the local municipality or taxing authority.
The property’s assessed value is multiplied by the tax rate to
determine the applicable property tax.
A prime objective of municipal taxation is the equitable
distribution of the tax burden according to the value of each
property. If equity in taxation is to be achieved then it must result
from equity in assessment. A fair and accurate property
assessment will ensure a property will not have a higher property
tax than what it ought to.
The general basis for property assessment is
the market value of the property, which is
typically defined as “the value a property
would realize if offered on the open market
by a willing seller to a willing buyer”. Market
value is subjective related to each property’s characteristics and
specifications. Market value property assessment is based on an
effective valuation date set either by legislation or the local
assessment authority. The tax rate is based on the budgetary
requirements of the taxing authority.
All provinces have property assessment hearing boards where
appeals may be filed by property owners who believe their
properties are improperly assessed and where discussions/
negotiations failed. These boards are independent from the
assessment agency.
1. The property’s assessed value, as determined by the local
assessing authority; and
2. A tax rate, as set by the local municipality or taxing authority.
The property’s assessed value is multiplied by the tax rate to
determine the applicable property tax.
A prime objective of municipal taxation is the equitable
distribution of the tax burden according to the value of each
property. If equity in taxation is to be achieved then it must result
from equity in assessment. A fair and accurate property
assessment will ensure a property will not have a higher property
tax than what it ought to.
The general basis for property assessment is
the market value of the property, which is
typically defined as “the value a property
would realize if offered on the open market
by a willing seller to a willing buyer”. Market
value is subjective related to each property’s characteristics and
specifications. Market value property assessment is based on an
effective valuation date set either by legislation or the local
assessment authority. The tax rate is based on the budgetary
requirements of the taxing authority.
All provinces have property assessment hearing boards where
appeals may be filed by property owners who believe their
properties are improperly assessed and where discussions/
negotiations failed. These boards are independent from the
assessment agency.
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Canadian property taxes are the second highest among industrialized
countries, after Britain, as a proportion of gross domestic product
countries, after Britain, as a proportion of gross domestic product
