Feature Article December 11, 2003
LAND O' LAKES NewsWeb HomeSurprise, surprise, property assessments rise
Throughout Frontenac County and in Addington Highlands, residential property assessments have increased by more than 10% this year, according to preliminary figures released by the Municipal Property Assessment Corporation (MPAC).
Individual ratepayers have already received their new assessment notifications, which will go a long way towards determining their property tax bills in 2004.
The figures for each township are based on the total value of assessment as of June 30, 2003, which includes property assessments based on new construction. The average assessment for existing properties is 1 or 2 percentage points lower.
Addington Highlands Residential assessment increased by 11.5%, farms by 6% and commercial properties by 14%.
North Frontenac Residential assessment increased by 16.5%, farms by slightly less than 10%, and commercial by 11.5%
Central Frontenac Residential assessment increased by 14%, farms by 1.2%, and Commercial properties by 11.5%.
South Frontenac Residential assessment increased by 12.5%, farms decreased by 0.5%, and commercial properties increased by 20% (the 20% increase in commercial properties will be lowered when the final figures are released, according to Peter Moran).
These figures, although preliminary, can be compared to the individual assessment increases people received in November. Those who saw their assessments increase by an amount greater than the numbers listed above might consider contacting MPAC and considering a request for reconsideration of their assessment. For information call MPAC at 1 866 296-6722 or visit www.mpac.ca
Increases in property assessment equate directly to increases in taxes. If a township freezes the tax rate, an individual taxpayer will see an increase in their taxes if their assessment increased. A 10% increase in assessment would result in a 10% increase in taxes.
