The tax payment deadline for 2015 was June 30th. A 7% penalty will be added to any unpaid tax balance.
The total current property tax rate for both municipal and provincial tax is 0.0057544.
In 2015, the median property assessment is $475,000.00, resulting in a municipal tax of $1,681.93. In the previous year the median assessment was $430,000.00, with the median tax being $1,611.21. In 2006, the median assessment was $250,000.00, and the median tax was $1,001.85.
The total tax on the median property assessment in 2015 (municipal and provincial) is $2,733.34.
The Real Property Association of Canada (REALpac), which represents commercial real estate owners such as pension funds and real estate investment trusts, has completed its 11th annual property tax survey. The association, which advocates for lower commercial-to-residential tax ratios, has crunched the numbers for the major municipalities in Canada. The association notes that while residential and commercial tax rates have generally been declining, that doesn’t translate into significantly lower tax payments because assessment values have been on the rise.
Contact Us, if you have any questions about 2015 Property Taxes