New Property Assessments Coming Out In 2020
Muskokans can expect to see fresh property assessments from the Municipal Property Assessment Corporation (MPAC) starting next summer.
MPAC administers property assessments and appeals of assessment in the province of Ontario, and they recently paid a visit to the Bracebridge general committee to explain the assessment cycle and give councillors the heads up on impending new property valuations.
Councillors heard the 2020 property assessment cycle valuation date was January 1, 2019. New assessments will be mailed out between June and October of 2020. Any increases to assessment will be portioned out over the following four years.
That breaks down to 25 per cent of your increase in 2021, 50 per cent in 2022, 75 per cent of the increase in 2023 and the full 100 per cent in 2024.
Anyone with a decrease in their assessment can expect to have it applied immediately.
Mayor Graydon Smith asked whether MPAC had been fielding many questions regarding the spring floods in Muskoka.
MPC staff said they put together a group strictly for those making inquiries into the value of their property but they were surprised by how few people had been in touch. In fact, they haven't processed any adjustments in terms of buildings being demolished or anything of that nature.
They said anyone can file a request for reconsideration if they feel that the value of their property has been affected by the flooding.