How is Property Tax Determined?
A number of factors go into determining your yearly property tax rate:
- The annual budget for Township services; which includes things like funding Police, Fire and Ambulance Service, Roads, Sidewalks, Parks, Infrastructures, Library, and all Township programs and services;
- Provincial taxes (to fund education);
- Your property value which is assessed every four years by MPAC.
Property Assessment and Your Municipal Taxes
The Municipal Property Assessment Corporation (MPAC) – a Provincial Crown Corporation conducts Ontario property assessments. For the municipal tax year starting in 2017, all Ontario properties were reassessed by MPAC based on market value at January 1, 2016. Notice of the reassessed property values were mailed in November 2016. It is these values that the Township of Larder Lake and other municipalities have in their Tax Roll (the list used for charging property taxes).
The reassessed values will apply to the tax years 2017 through 2020. Increases in assessment values will be phased in over four years; decreases in assessment will be effective in 2017.
Note: Property assessment values may increase or decrease for a variety of reasons including changes in economic conditions, structural alterations and re-zonings. Details concerning the assessment process and information on the assessed value of your home and neighbouring properties can be accessed at the MPAC website.
As this overview indicates, property assessment is a key component of municipal tax systems. However, the MPAC notice you received last year does not automatically increase or change your property taxes.
The bottom line is the Township of Larder Lake does not get one more dollar from the MPAC property reassessment. Property reassessment is a redistribution of who pays the municipal tax bill based on the value of the property owned – it has no effect on the overall tax amount collected.
Assessed Value x Tax Rate (for the Property Class) = Property Tax
A municipality determines its budget requirements each year. If the average value for the properties increases, the tax rate decreases to keep the same amount of property tax levy.
Reassessments have no impact on the total property tax amount a municipality raises.
Reassessments only affect the way the tax levy is allocated among the various properties and property classes.
What Tax Payment options are Available to me?
You can pay your property taxes on-line through most financial institutions by searching in the payee/vendor tab for Larder Lake.
We also except payments in person of Cash, Debit and Credit Card.
Telephone payments can be made via Credit Cards.
When are Tax installments due?
An interim tax bill is mailed out at the end of March with installments due the:
- Last business day of April and May
A final tax bill is mailed out at the end of August with installments due the:
- Last business day of August and September
Changes to Your Property Tax Bill / Tax Account
Keep your information up to date so you receive your property tax bill on time and avoid late penalties and interest charges.
Submit mailing address changes in writing by fax, email, mail or in person.
Include the following information in the written letter:
- Property Address
- New Mailing address
- Daytime Phone Number
Who Can Answer My Tax Bill Question?
We’re here to help. You can call us at during regular business hours. The telephone lines in the Township Office are always very busy for the first few days after the tax bills are mailed. We apologize for any inconvenience. E-mails are always welcomed as well.
Who Can Answer Questions about my Property Assessment?
Please call the Municipal Property Assessment Corporation at 1-866-296-6722 for information or questions concerning your property assessment.
If you do not agree with your property assessment you can file a request for reconsideration on AboutMyProperty.
What is the Deadline to File for Tax Rebate Programs?
The deadline for filing applications for 2018 property tax rebates for commercial and industrial vacancies and charitable organizations that are tenants in commercial properties is the last day of February 2019. Information on both these programs is available through the links above or at the Municipal Office.
What Charges are Imposed if Tax Payments to the Municipality are Late?
Penalty/interest of 1.25% is charged on taxes due and unpaid on the first day of default and the first day of each month thereafter.