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You and "YOUR" Propertry Tax Bill -- Who Takes The Biggest Bite?
Understanding Your Property Tax Bill,how it is calculated and how it relates to other tax bills in your neighbourhood and in neighbouring communities just might become increasingly important to you. The province has given the go-ahead to reassess every home in Ontario for your 2009 tax bill. Your 2009 tax bill will be calculated based on the assessed value of your home in January of 2008.
The Two Main Componentsof your tax bill are the assessed value and the mill rate. The the mill rates that are applied are set by 3 different bodies while the assessment or assessed value is set by MPAC (Municipal Property Assessment Corporation). 
The three taxing bodieswho benefit from the taxes you pay, are:  1-the Town/Township,  2 - the Region, and  3 - the Education System.
Your Tax Bill Is Calculated by multiplying the Mill Rate by the Assessed Value.
CVA ASSESSMENTSWhile those who support the current assessment process would have you believe it is fair and equitable, those who do not support it would wholeheartedly disagree.
We are not going to discuss assessment fairness today but rather the differences in the 2008 tax bill in 2 neighbouring communities, Uxbridge and Georgina.
Our example uses a home assessed at $300,000 in both communities. If you look ... more

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