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REPORT
FINANCE DEPARTMENT
Meeting:
GENERAL PURPOSE AND ADMINISTRATION COMMITTEE
Report #: FND-016-05
File#:
Resolution #:GPI\.1'i)(.,-()5
By-law #:
Date:
MONDAY, OCTOBER 17, 2005
Subject:
PROPERTY REASSESSMENT UPDATE
Recommendations:
It is respectfully recommended that the General Purpose and Administration Committee
recommend to Council the following:
1. THAT Report FND-016-05 be received,
Reviewed~~ ~
Franklin Wu,
Chief Administrative Officer.
NT/hjl
REPORT NO.: FND-016-05
PAGE 2
BACKGROUND:
1.0 Under the current value assessment regime that has been in place since 1998,
periodic province wide property reassessments take place under legislation put
forward by the Ministry of Finance. The Municipal Property Assessment
Corporation (MPAC) is responsible for performing the reassessments of all
properties in the province.
1.1 The 2006 taxation year is a reassessment year. This means that property values
have been revised from a property valuation date of June 30, 2003 to January 1,
2005. These values will be used for purposes of property taxation in 2006.
1.2 All properties in Clarington were mailed reassessment notices commencing on
October 13, 2005. Information is included in those notices pertaining to
processes for requesting a reconsideration and/or appealing the valuation of the
property. The municipality has received a summary of the valuation changes as
of this notice date for all properties within Clarington. No information on province
wide statistics has yet been released.
1.3 The Municipality will receive a final assessment roll for taxation purposes in early
December that will include any amendments arising as a result of requests by
taxpayers that have been processed by MPAC's cut-off dates for assessment roll
generation. These are the assessments that the 2006 budget and tax bills will be
based on. Any subsequent individual property changes are then dealt with as
write-offs in the 2006 tax year.
SUMMARY OF ASSESSMENT RELATED INCREASES:
2.0 On the attached schedules (Schedules "A" and "8"), details are provided
regarding assessment related increases for each property class as well as a
schedule indicating average assessed value and assessment related increases
for selected types of residential properties. For example, residential properties
as a whole have increased in value in Clarington by 12.66%. However, single
family detached considered separately have increased in value by 13.05%.
2.1 Please keep in mind that an assessment related increase does not indicate a tax
increase for 2006. Generally those properties that are increasing at a rate similar
to the average rate will only incur budget related tax increases or the effect of
any tax policy shifts between tax classes. It is premature at this point to
speculate on what those may be as tax policy is determined at the upper tier.
REPORT NO.: FND-016.05
PAGE 3
CONCLUSION:
3.0 The attached schedules are provided for information only in order that Council
may be informed in the event of taxpayer/constituent concerns. MPAC has
extended its call centre hours in order that they may provide an improved level of
customer service during notice mail out.
Attachments:
Schedule "A" - Total Assessed Value by Realty Tax Class
Schedule "B" - Average Assessed value by Selected Residential Properties
CORPORATION OF THE MUNICIPALITY OF CLARINGTON
40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L 1 C 3A6 T (905)623-3379 F (905)623-4169
Schedule nAn
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CVA BClse Yom' CrlClIl~]c' Report
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AD 13 CLARINGTON MUNICIPALITY 1817
OM
. 2003
Value
Estimate
. 2005
Value
Estimate
6.000M
5.000M
4.000M
3,QOOM
2,OOOM
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Commercial
C Commercial 289,159,562 316,455,221 27,295,659 9.44
G Parking Lot 303,000 334,000 31,000 10.23
S Shopping Centre 16,790,500 17,693,760 903,260 5.38
Subtotal: ~ 306,253,062 334,482,981 28,229,919 9.22
Farm
FFarm 224,809,745 256,778,280 31,968,535 14.22
Subtotal: ~ 224,809,745 256,778,280 31,968,535 14.22
Industrial
I Industrial 55,429,340 62,449,635 7,020,295 12.67
L Large Industrial 56,512,976 58,488,634 1,975,658 3.50
Subtotal: ~ 111,942,316 120,938,269 8,995.953 8.04
Managed Forest
T Managed Forest 18,735,630 20,087,090 1,351,460 7.21
.0
C
CVA BClSl, Yei:1I' Change Rep[]I'l
September', 2005
AD 13 CLARINGTDN MUNICIPALITY 1817
1.000M
. 2003
Value
Estimate
. 2005
Value
Estimate
6,OOOM
5,OOOM
4,OOOM
3,OOOM
2,OOOM
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Subtotal: I 18,735,630 20,087,090 1,351,460 0.00
Multi-Residential
M Multi-Residential 47,700,860 52,458,845 4,757,985 9,97
Subtotal: ~ 47,700,860 52,458,845 4,757,985 9,97
Pipeline
P Pipeline 34,411,000 34,791,000 380,000 1,10
Subtotal: I 34,411,000 34,791,000 380,000 0.00
Residential
R Residential 5,207,466,382 5,866,573,035 659,106,653 12,66
Subtotal: I 5,207,466,382 5,866,573,035 659,106,653 12,66
Total: I 5,951,318,995' 6,688,109,5001 734,79o,505~ 12,35%1
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Schedule "B"
CVA Base Year CIICIII!JC F1E,PDlot
~-=)EpWfnLJF;I', 2CCJ~1
AD 13 CLARINGTON MUNICIPALITY 1817
Average Assessed Value by Selected Residential Properties
50000
iii Avg of (~2003 CVA
Change
.J Avg of w2005 CVA
Change
350000
300000
250000
150000
100000
o
301
305
309
311
313
370
Average 2003 Average 2005 % Change
Property Codel Property Value Value in Value
Description Count Estimate Estimate Estimate
301 Single Family Detached 14,647 22S.475 254,884 13.05
305 Link Home 4,683 180,313 201,283 11.63
308 Freehold TownhousejRowhouse 1,356 148,278 166,286 11.40
311 Semi-detached residential 858 144,628 162,853 12.60
313 Single family detached on water 111 305,216 344,276 12,80
370 Residential Condominium 821 128,104 146.430 14,31
Grand Total: I 22,587 I 188,836 I 212,672 I ~
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