Ensuring that clients pay only their fare share of property taxes is no accident - it is the result of hard work.
My approach to property tax reviews is fundamentally simple - gather all of the relevant information, and then determine what the property taxes should be. Compare that result with what they currently are, and it becomes clear how to proceed. The steps involved are:
Gather client sourced information (Assessment notices, tax bills etc.)
Collect assessor working papers from MPAC
Inspect subject property
Perform review of assessed value and tax classification
Provide appeal recommendation report
If warranted and approved, file appeal with MPAC and/or the Ontario Assessment Review Board
Pursue reductions through negotiation with assessor and municipality
If necessary, take matter through hearing before Assessment Review Board
Knowing if your Ontario property taxes are fair is important, and complex. Economic obsolescence, functional obsolescence, market rents, capitalization rates: these are important subjects, and are not well understood by many. A good property tax consultant should be able to explain how they apply (or do not apply) to your property.