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The Government of Ontario has made a number of changes to the property assessment system, which take effect for the 2009 property tax year. These changes include the introduction of a four-year assessment update cycle and a phase-in of assessment increases.
To provide an additional level of property tax stability and predictability, the market increases in assessed value between 2005 and 2008 will be phased-in over four years. The phase-in program does not apply to decreases in assessed value. The change in assessed value and the phased-in assessment values for the 2009 to 2012 property tax years are listed on your Notice.
Your 2005 assessed value is also included on your Notice. This value may not necessarily be the same as the value that appeared on your last Notice if your property underwent a change that affected its value. Please contact MPAC if you have any questions.
There have also been a number of changes to the Request for Reconsideration and Appeal processes.
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