Tax News

2012 Province Wide Property Reassessment
 
Within the City of Brampton residential properties increased from the 2008 market assessment to the 2012 market assessment by 20.80%.  The increase will be phased-in over four years with the average increase for 2013 being 5.14%.  Over 85% of residential properties increased within 2% of the phased-in average.
 
Brampton residents began receiving their notices from the Municipal Property Assessment Corporation (MPAC) on October 22, 2012.  MPAC will complete mailings for the Region of Peel during the week of October 29, 2012.  The new assessments will be based on a January 1st, 2012 market value and will apply to taxation years 2013, 2014, 2015, and 2016.  Increases from the previous market date of January 1st, 2008 will be phased-in over the four-year period.  Any assessment decreases from the 2008 market value to the 2012 value will be fully reflected in the first year of the phase-in.
 
The distribution within the residential class is very compact with over 95% of the properties within 5% of the average, meaning that these properties should experience minimal tax impact as a result of the re-assessment. 
 
The following table lists the distribution of increases by range in the residential class:
 
Range
Percentage of Residential Properties in Range
Below 0%
0.32%
0-3%
5.15%
3-7%
85.60%
7-10%
4.49%
10-20%
3.81%
20-40%
0.55%
Over 40%
0.08%
 
Individual property owners with concerns over their new assessed value should contact MPAC’s call centre at 1-866-296-MPAC (6722) for assistance.
 
MPAC has advised that the non-residential values are only preliminary at this time and they have not been included in the information presented here. 
 
To view maps illustrating the changes across the City, click here.