25 March 2015
With the upcoming property tax appeal deadline only a few days away, owners of commercial property should be especially diligent in reviewing their assessment and filing appeals. The current provincial government rescinded a reduction of the non-residential property tax rate that was scheduled to be phased in as of 2013 to 2016. The provincial non-residential levy has been reverted back to 2012 levels and is reflected in the March 2015 tax bill.
A higher tax bill may have a negative impact on your property value depending on the property type. Given the tax hike imposed on your property this year, it is all more reason to scrutinize your property tax liabilities. The only way to reduce your property taxes is to manage the assessed value on which the municipal and provincial tax rates are based.
Should I file a property tax appeal?
While there are many reasons to file an appeal on your property assessment, the following are good indicators that review and possible appeal are warranted.
Contact our local tax professional, Mathieu Maillet at (506) 858-2176 or e-mail at firstname.lastname@example.org. We will review and advise you on what activity should be completed for 2015.