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Ontario

Ontario Property Tax Services

Ontario Realty Tax

Ontario utilizes the ad valorem or ‘according to value’ property tax system. The current value assessment (CVA) is determined by the assessment authority using one of the three approaches to value: the cost approach, income approach or sales approach. 

Cost Approach - Market value is derived by calculating the replacement cost of the building and the land value, combined.

Income Approach - Market Value is derived by capitalizing income generated from the property into a value.

Sales Approach - Market Value is generated using comparable properties sold in the market area within the base and shoulder years along with the five major factors to value; location, lot dimensions, building area, effective age of the property and the quality of construction. 

The CVA for the current four-year reassessment cycle is based as of January 1st, 2016 which translates into the 2017 to 2020 assessment value for all properties in Ontario. It is essential to review the assessment notices sent out in the last quarter of 2016 to ensure the new values are a true representation of a property’s market value as of January 1st, 2016 as it will determine the tax burden for the property holder for the next four years.

Capabilities

At Colliers we understand that each parcel of land is unique with various factors influencing its value. We cover a broad spectrum of consultation and advocacy services to ensure the Ontario’s tax system aligns with our clients’ business goals. We review and analyze all information to ensure it is accurate, up-to-date and mirrors the value of other similar properties in the market area. We leverage our extensive network of experts, experience and market knowledge to determine if an appeal is warranted.

The scope of our work includes; but not limited to the following:

Assessment Review

We review the assessment notices based on the principles of Equity (fairness) and Accuracy (market value) in accordance with the Ontario legislation, and ensure all our clients pay only their fair share of property taxes.  

Tax Analysis

We conduct thorough analysis and give our clients an accurate representation of the tax impact that results from any potential changes in the assessment and/or use of their property.

Municipal Tax Rebates

We engage with the local municipalities to file and obtain Vacancy Rebates, Change in Use Rebates, Demolition Rebates and other municipal tax rebates.

Apportionment Work

Often properties, or portions of properties are being taxed in incorrect tax classes, we are able to detect these discrepancies and successfully resolve them.

Assessment Appeals

Our Tax Team actively pursues negotiations with assessors to limit the number of appeals that appear in front of the Assessment Review Board. In the event that a complaint cannot be settled through discussion with the assessing body, our experts are capable and confident that your best interests are represented in the public hearing.

Important Dates

Deadlines are legislated by the Assessment Act R.S.O., 1990. Any properties not appealed by the below-mentioned date cannot pursue action for the remainder of that year. Should there be an issue of factual nature in the assessment, Colliers also assists with filing a Request for Reconsideration with the assessment authority.

  • Vacancy & Municipal Tax Rebate Application Deadline - February 28 of the following year (i.e. 2017 Deadline is February 28, 2018)
  • Assessment Review Board Appeal Deadline - March 31 of the current year (i.e. 2018 Deadline is March 31, 2018)
  • Request for Reconsideration - March 31 of the current year (i.e. 2018 Deadline is March 31, 2018)


Please note: If deadline falls on a weekend or a holiday, the deadline will automatically fall on the next business day. 

Communication Strategy

At Colliers we believe in open and transparent communication. We take pride in educating our clients on the appeal process and procedures so they can be as involved in the appeal process as they desire. We provide timely updates through every step of the process and consult with our clients to ensure they make an informed decision on how to proceed with their appeal. Once the appeal is completed, a successful appeal report is provided to our clients, detailing the tax savings achieved and their new assessment value.








Assessment Review Board Changes

As of April 1, 2017 the Assessment Review Board has changed the Appeal procedure rules in hopes to streamline the overall appeal process. 

For more information please visit the following link: http://elto.gov.on.ca/tribunals/arb/legislation-and-rules/ 

Recent Success Stories

Ottawa Office Building

Despite the initial offered reduction of $70,000 based on the buildings performance, Colliers successfully furthered argued the property was substantially overvalued based on the principal of Equity. 

While other consultants pressured the client to accept, we achieved savings six times greater than the initial offer through our ‘equity’ argument.

Assessment Reduction: $5,860,000  Total Tax Savings: $470,000


Oakville Industrial Facility

Building value was grossly over assessed due to MPAC’s incorrect costing and makeup of building elements. In addition to discovering costing errors, additional tax savings were also found by transferring a large portion of the assessment value from the higher industrial tax class rate to the lower commercial tax class rate to accurately represent the operations at the facility.

Assessment Reduction: $1,332,000 Total Tax Savings: $215,000


Contact Chaney for more information

J. Chaney Morkill

J. Chaney Morkill

Executive Managing Director | Property Tax Services Canada
Office:
Dir:
+1 416 643 3748
Mob:
+1 416 460 4664

Fee Structure

Our typical fee structure is performance based, charging the client a percentage of overall tax savings. This performance based arrangement is most popular as it ensures our fees are never greater than the overall achieved savings, but our compensation is flexible depending on your specific needs. Colliers is prepared to provide our services on a contingency fee, hourly fee, or a flat fee basis.

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