Taxable Assessment Base
The total value of all assessed property within a municipality.
- Peel’s total taxable assessment grew by 0.95 per cent in 2020 (for 2021 tax year).
- This was the second consecutive year of less than 1 per cent growth.
- Growth in the residential tax base led overall growth in Peel’s taxable assessment base.
In 2020 (for 2021 tax year), Peel’s total taxable assessment base grew by 0.95 per cent, which is comparable to the 0.92 per cent growth registered in 2019.
Annual growth in Peel’s taxable assessment base has trended down over the last thirteen years reflecting several factors including the changing nature of work and a larger base.
Continued growth in the Regions taxable assessment base will reduce the overall property tax impact on Peel's taxpayers in 2021 as it provides a larger base over which property tax is levied.
Changes by Sector
Residential tax base led growth in Peel's taxable assessment base to continue the shift in Peel’s taxable assessment base towards the residential sub-sector.
Non-residential taxable assessment base continued to grow in 2020 but was lower than the growth in the residential tax base reflecting the continued influence of the changing nature of work.