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Sections: Index | 1 | 2 | 3 | 4 | 5 | App
Appendices
Contacts
The following offices can be contacted for more information about assessment and property taxation.
Ontario Ministry of Municipal Affairs and Housing
Phone: 416-585-7041
Website: www.mah.gov.on.ca/Page11.aspx
Ontario Ministry of Finance
Phone (toll free): 1-800-263-7965
Website: www.fin.gov.on.ca/english/index.html
Municipal Property Assessment Corporation (MPAC)
Phone (toll free):1-866-296-6722
Website: www.mpac.ca
Region of Peel
Phone (finance department): 905-791-7800 ext. 4264
Website: www.peelregion.ca
City of Mississauga
Phone (tax department): 905-615-4311
Website: www.mississauga.ca/portal/home
City of Brampton
Phone (tax department): 905-874-2200
Website: www.city.brampton.on.ca
Town of Caledon
Phone (switchboard): 905-584-2272
Website: www.town.caledon.on.ca
Glossary of Terms
The following defines some of the key terms used throughout
this document.
Assessed Value (Assessment) The value of a property (lands and buildings) for taxation purposes.
Assessment Review Board (ARB) An independent tribunal that hears assessment appeals. A decision made by the ARB is final unless a point of law is being disputed.
Assessment Roll An annual list of the assessed values of all properties in a municipality, which includes the name of the property owner or tenant, their address, the realty tax class, services to and size of the property and information on structures on the property if any. Assessment rolls are usually delivered to a municipality at the end of the year preceding the taxation year.
Business Occupancy Tax (BOT) Tax imposed on a business over and above the realty tax paid by the owner of the property. The BOT was paid by the operator of the business. The BOT was eliminated in 1998.
Current Value Refers to the amount of money a property would realize if sold at arm’s length by a willing seller to a willing buyer.
Lower-tier municipality A municipality that is part of a county, region or district municipality.
Property Class A grouping of the same type of property for assessment and taxation purposes.
Ranges of Fairness Provincially prescribed range for the setting of tax ratios for the commercial, industrial, multi-residential and pipeline property classes. Municipalities are permitted to change their tax ratios only if the ratio is moved closer or within the ranges of fairness.
Reassessment The process of creating a new base for property taxation by updating assessments to reflect more recent values.
Subclass of Property A subsection of a class of property prescribed by the Minister of Finance for the purposes of applying a lower tax rate.
Tax Rate A percentage applied to the assessed value of a property to generate tax payable. Municipalities will set the tax rate for each property class based on the revenue they will need to supply local services.
Tax Ratio Defines the tax rate of each property class in relation to the rate of the residential/farm property class. The tax ratio for residential/farm property class is 1. If the tax rate for commercial property is twice that of the residential property, then the commercial tax ratio is 2.
Upper-tier municipality A municipality which is a county, region or district municipality.
Sections: Index | 1 | 2 | 3 | 4 | 5 | App
Revised:
Thursday September 09 2010
www.peelregion.ca
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