Assessments_rising

Jeff Green | Sep 29, 2005

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Assessments rising

by JeffGreen

Weary taxpayers throughout Frontenac and Lennox and Addington Counties have been receiving assessment notices in their mailboxes this week. Chances are quite good that the properties will have higher assessed values than they had 18 months ago, when the last wholesale assessment process was completed.

The Municipal Property Assessment Corporation (MPAC) has provided an assessment that is designed to match the actual value “that would be paid for a property if sold under normal circumstances on January 1st of 2005” MPAC representative Bev Disney said in discussing the assessment information with Central Frontenac Council this week.

This year, MPAC has released the average assessment increases for each township. For Central Frontenac, MPAC has determined that the average value of residential properties increased by 16.25%. This compares with increases of 20.38% in South Frontenac, 21.87% in North Frontenac, and 14.93% in Addington Highlands.

Bev Disney provided further details. Farmland, surprisingly, increased in value by a whopping 39.8%, while single family detached homes increased on average by 11.73%. Waterfront properties increased by 16.10%.

The deadline for filing a request for reconsideration with MPAC for individual assessments is December 31st of this year, and the deadline for filing a formal appeal is March 31st.

The new assessments will be used to calculate municipal taxes for next year.

When townships and Counties were preparing their 2005 budgets, they had marginal assessment increases (Central Frontenac had a decrease) to work with as they set their tax rates.

For 2006, it will be a different matter entirely.