Property taxes for the Residential and Farm tax class (RT) are a product of the annual tax rates, as determined by the City of Brampton, The Region of Peel and the Province of Ontario (education) and the Assessment Value provided by the Municipal Property Assessment Corporation (MPAC)
Example:
Assessment Value* (330,000) X Total Tax Rate (2012: 1.161747%) = $3,834
Please Note: The above calculation is a starting point for properties in the Commercial, Industrial and Multi-Residential tax classes. This basic formula is then adjusted on a property by property basis to reflect the adjustments legislated by Bill 83. For more information please see Capping and Clawback. * If assessed value has not been assigned, the purchase price can be used to estimate taxes.